Oil production heads Indonesia's drive for economic growth
Journal Article
·
· Energy Int.; (United States)
OSTI ID:7121294
In less than a decade, crude oil production in Indonesia has increased from less than 0.5 to 1.5 million bbl/d. Natural gas discoveries show an extremely high potential. The vast natural wealth of the country and the other discoveries taking place in South East Asia are forcing Indonesia into strategic world affairs. In 1969, two national oil companies merged to form Pertamina, but with little available capital. Then a unique production-sharing concept, originated in 1961, was emphasized. The sharing plan is allowing for the most rapid development of Indonesia's oil and gas industry. It is based on a division of actual production between foreign oil companies and Pertamina, rather than on the traditional divisions of net profit. As a result, more emphasis is placed on reserves being a resource of the nation. The drilling and production of the resources are summarized. The construction of an LPG plant is envisaged and the feasibility of using the dry gas, after shipping, as fuel for a new sponge iron plant is being considered. Offshore drilling successes are cited. The progress of the oil and gas industry in Indonesia depends largely on political and economic stability within the Asia-Pacific area. With oil and gas comes energy, and with the latter comes industrial development. In Indonesia two new fertilizer plants are already in operation, and four additional ones are underconstruction. Plans have already been initiated for the construction of steel plants as well as new LNG plants to process gas. (MCW)
- OSTI ID:
- 7121294
- Journal Information:
- Energy Int.; (United States), Journal Name: Energy Int.; (United States) Vol. 13:12; ISSN ENEIB
- Country of Publication:
- United States
- Language:
- English
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