In its press statement on Saturday, the Agency for the Assessment and Application of Technology (BPPT) and its counterpart Bundesanstalt fur Geowissenschaften und Rohstoffe (BGR) said the unproven reserve might reach 107 billion barrels of oil or gas as a minimum.

The statement said the maximum of the reserve could reach 320 billion barrels.

As a comparison, the proven reserve of Saudi Arabia is around 264 billion barrels, the largest in the world, while the Banyu Urip block in Cepu, Central Java, contains around 450 million barrels.

The BPPT said the discovery was apparently unintended and the primary aim of the research was to map the geological construction of the surrounding sea in Aceh after the 2004 Indian Ocean tsunami.

However, through a research vessel, Sonne, the agencies managed to locate an underwater basin which may contain hydrocarbon.

The research and preliminary finding remains subject to further tests to determine the actual reserve of the basin.

Further information is required before energy companies would be able to feasibly explore an oil or gas block.-- JP

Popular

Cars over people? Sidewalk cuts in South Jakarta draw backlash

The Hunger Games in the making in Independence Month

‘Ojol’ driver’s death fuels fury over police brutality