Indonesia: World Oil Report 1991

Journal Article · Thu Aug 01 04:00:00 EDT 1991 · World Oil; (United States)

OSTI ID:5802023

Khin, J A ^[1]

---

1. AFKA Co., PTE Ltd. (SG)

This paper reports on Indonesia which earned nearly 30% more than expected during fiscal year 1990/91 ($8.6 billion vs. $11.0 billion) because oil prices were a third higher than budgeted. Prices averaged $22.60 per bbl as opposed to the $16.50 per bbl originally budgeted. Production was also up, averaging 1,500,000 bopd. In the current fiscal year (1991/92 budget), Indonesia used an estimated average oil price of $19 to project earnings of about $7.7 billion. Oil and gas accounts for about 40% of the nation's export earnings. Among the foreign firms involved and their expected major investments over the next six years are: Virginia Indonesia Co. (VICO) ($79 million); Asamera Oil Indonesia ($71 million); Mobil Makassar ($49.2 million); Total Indonesia ($46 million); Petrofina ($70 million); P.T. Caltex Indonesia ($322 million); and Mobil/BHP ($70 million). While oil activities have been dominated by foreign firms, local companies are now being encouraged by the government to take a more active role. Pertamina recently asked seven Indonesian companies to enter into production-sharing contracts (PSCs). Areas offered for exploration include Tungkal, Kayu Agung and North West Natuna. Areas for EOR activities include Perlak, Telaga Said, and Banakat. One local firm already signed a 20-year technical assistance contract for secondary recovery in Cepu, central Java.

• OSTI ID: 5802023
• Journal Information: World Oil; (United States), Journal Name: World Oil; (United States) Vol. 212:8; ISSN 0043-8790; ISSN WOOIA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020200* -- Petroleum-- Reserves
Geology
& Exploration
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002 -- Energy Planning & Policy-- Petroleum
ASIA
CONTRACTS
DEVELOPING COUNTRIES
DRILLING
ECONOMIC ANALYSIS
ECONOMICS
ENERGY SOURCES
EXPLORATORY WELLS
EXPORTS
FOSSIL FUELS
FUELS
GEOLOGIC DEPOSITS
GOVERNMENT POLICIES
INDONESIA
INDUSTRY
INVESTMENT
ISLANDS
MINERAL RESOURCES
NATURAL GAS INDUSTRY
OIL FIELDS
PETROLEUM
PETROLEUM DEPOSITS
PETROLEUM INDUSTRY
PLANNING
PRICES
RESOURCES
TRADE
WELL DRILLING
WELLS