Indonesia's crude oil reserve has been in a
steady decline during the past two decades, faster than that in other ASEAN
member countries, which is unable to replenish to meet growing demand, the
Jakarta globe reported Monday.
Indonesia's
proven oil reserves have fallen by 1.9 billion barrels since 1991, faster than
the rate in any other Asian countries, according to British oil giant BP's
annual report on oil and gas.
The
report,"Statistical Review of World Energy 2012,"was released last
week.
Indonesia,
a former OPEC member, had 4 billion barrels of proven oil reserves last year,
down from 5.9 billion barrels in 1991. Reserves India dropped by 800 million
barrels and 400 million barrels in the same period, respectively, though oil
consumption in both countries has historically been higher than in Indonesia.
In last
year's BP report, Indonesia's reserves for 2010 were 4.2 billion barrels, down
from 5.4 billion barrels in 1990.
Elisabeth
Proust, chairwoman of the Indonesian Petroleum Association, called for more
incentives in the exploration stage as oil companies must venture out to new
frontiers where potential fields are offshore and often deeper and riskier.
Mexico
had the fastest depletion rate in the world, according to the BP report. The
country's reserves plunged to 11.4 billion barrels last year from 50.9 billion
barrels in 1991. In the same period, Venezuela's reserves surged to 296.5
billion barrels from 62.6 billion barrels, overtaking Saudi Arabia with the
world's biggest stockpile.
Malaysia
managed to raise its proven oil reserves to 5.9 billion barrels in 2011 from
3.7 billion barrels in 1991, reflecting a 60 percent increase in reserves
worldwide.
Indonesia's
oil consumption last year stood at 1.43 million barrels per day, while its
refineries have the combined capacity of 1.141 million barrels per day,
indicating the need to import to cover the shortfall.
Indonesia
has been raising its stash of natural gas, with proven reserves up 67 percent
to 3 trillion cubic meters in the 20 years to 2011. That rate was higher than
the world's 59 percent increase to 208.4 trillion cubic meters.
Xinhua
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