Scientists agree that the petroleum oil and gas are derived from the ancient living things. In addition to the long process of its formation, is actually not all oil and gas reserves are found to be utilized. Only economically sufficient reserves one to be developed, which will be lifted to the surface to produce receipts (revenue).
The question: whether Indonesia really rich oil? That question can be answered through two approaches. First, by comparing the oil reserves are owned by Indonesia and other countries. Secondly, by comparing the reserves owned and produced by the level of consumption. Through this second approach will know the level of sustainability of production (sustainability) petroleum energy in Indonesia.
Indonesia’s proven oil reserves as of the end of 2013 in the position of 3.46 billion barrels. Meanwhile, according to world energy statistics published by the oil company BP, our proven oil reserves are about 3.7 billion barrels. With a reserve of this, the publication put Indonesia in order to 28 oil-producing countries. We reserve amount is far below the Venezuelan reserves of 298.3 billion barrels and Saudi Arabia with 265.9 billion barrels of reserves. Although there are other countries that position under Indonesia, does not mean that the state is “poor” oil reserves, because according to the second approach, it could be he has a level of sustainability of production is higher because oil consumption is not as big as Indonesia.
Indonesia is currently producing about 800,000 barrels per day. Compare the two countries with the largest oil reserves in the world; Venezuela which produces 2.73 million barrels per day, and Saudi Arabia produces about 11.53 million barrels per day. If the production rate of each country compared to proven reserves, it will be seen that the rate of depletion of oil in Indonesia is much higher than countries with the largest reserves in the world. With assuming production levels are in the range today and no discovery of oil reserves new, Indonesia’s oil reserves are expected to run out about 11 years into the future.
Is this condition has been so alarming? Surely excessive worry is not necessary, because the oil reserves can always be improved through exploration activities. Exploration activity requires high investment that needs to support a favorable investment climate as the smooth licensing and legal certainty for the upstream oil and gas business activities.
In addition, although the reserves and oil production showed a decrease, Indonesian gas reserves and production showed a positive trend. But, of course, need seriousness to build infrastructure which is a prerequisite for the utilization of natural gas. Another thing that needs to be done is to develop renewable energy sources which are actually very abundant in Indonesia.
Support for exploration activities, development of gas infrastructure, and the development of renewable energy, are three factors that really need to be taken seriously by all parties to maintain the sustainability and energy security for Indonesia to avoid an energy crisis that could threaten the continuity of development for the welfare of the people.