Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Why oil and gas exploration targets are out of reach

  • George Barber
    George Barber

    Country manager of PT Terra Explorasi and Exploitasi Teknologi Indonesia

Jakarta   /   Wed, November 8, 2017   /  10:20 am
Why oil and gas exploration targets are out of reach Back to work: Pertamina Hulu Energi West Madura Offshore (PHE WMO) workers are moved in a personnel basket from a ship to the company’s oil rig off the coast of Madura Island in East Java. (JP/Wahyoe Boediwardhana)

Recently, we have seen statements that Indonesia is unlikely to achieve the 23 percent renewable energy target by 2025 and that oil and gas exploration targets for 2017 are out of reach. 

This indicates that Indonesia is underachieving in its goals. If Indonesia was a company instead of a country, the CEO would be asked some serious questions from shareholders as to why the company is not meetings its targets. Are the taxpayers Indonesia’s shareholders?

The exploration targets will not be met for the third year in a row with the low price of oil being the main excuse. Between January and August, only 22 percent of seismic has been carried out and 29 percent of wells were actually drilled, which properly means that less than 50 percent of exploration will be achieved by the end of the year, after all we are now entering the rainy season.

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.