Jakarta, CNBC Indonesia – Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif revealed that there is jumbo oil potential in the Buton offshore area. In fact, the potential is estimated to reach 5 billion barrels.

Therefore, Arifin encouraged Pertamina to immediately develop this area. So that amount of oil can be produced to increase national production.

Initially, Arifin said that based on the results of a seismic survey carried out by Pertamina in the Buton area, it was known that this area had quite large oil potential for development.

“At the start of 2019-2020, do you remember when Pertamina did geoseismic? That was one of them, we encouraged Pertamina to immediately develop the Buton field, the oil is heavy oil, but the quantity is large, the potential is 5 billion barrels, just 20% is already 1 billion. Later we will encourage it so that this can be accelerated,” said Arifin at the Office of the Directorate General of Oil and Gas, Energy and Mineral Resources, quoted Monday (22/4/2024).

Arifin realizes that the process of searching for oil reserves starting from the time the oil is produced takes time. However, the government will ensure that projects in the Buton area can start immediately.

Previously, the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) revealed that there was a potential Indonesian treasure in the form of oil reserves of 9.7 billion barrels in eastern Indonesia.

Head of SKK Migas Dwi Soetjipto said that apart from focusing on offering the potential of the Masela Block to investors, the government also offers the potential of oil blocks which have quite large reserves. These include Timor, Buton, Warin, Seram Islands and Aru Islands.

“The total reserves there are estimated at 9.7 billion barrels, so if we look at 3.2 billion barrels of oil, this could be three times the current reserve position that we offer,” said Dwi to CNBC Indonesia in the Energy Corner, Monday (22 /8/2022).

[Gambas:Video CNBC]

(pgr/pgr)