INDONESIA - Other Provinces.

In addition to the above major zones, there are interesting new discoveries in the Timor Sea, where big oil and gas discoveries have been made. But more of these will be part of East Timor, now an independ state, and Australia (see Vol. 52).

There are gas deposits on the island of Sulawesi. A discovery was made in a reefal play which raised possibilities of future prospects in the complex area of the Banda Arc, lying between Sulawesi and Papua. There is a small oil province in southern Kalimantan. In recent years, oil exploration of the Meratus Basin, in Central Kalimantan, was curtailed. Exploration in the marine areas to the south-west and south of Sumatra and Java which overlie the fore arc basins, productive in Burma, has resulted only in some small gas discoveries and dry holes. Deep water prospects, considered highly speculative as a drilling campaign in the Lombok Strait was unsuccessful, are now becoming popular following discoveries in recent years.

Reserves: In January 1997, the state-owned NOC Pertamina announced that Indonesia's proven and probable oil and condensate reserves stood at about 9 bn barrels and said they could last for about 10 years. An independent APS source last week put Indonesia's proven oil reserves at about 4.5 bn barrels, down from 5 bn barrels in early 2001. In addition, there are around 4 bn barrels in place yet to be proven recoverable. About 70% of the proven and probable oil reserves are located in Sumatra. Oil is produced from 14 sedimentary basins, mostly in Western Indonesia.

Proven reserves of natural gas are estimated at 94.5 TCF. Probable gas reserves are estimated at 138 TCF. The gas R/P ratio has been put at less than 35 years.