Technotec Int. sees Indonesia’s development prospects
What do we know about Indonesia, besides the agrarian-industrial economy and prosperous tourism? In general, that’s it. But what about oil industry development? It turns out that the first attempt to develop the oil industry of Indonesia was already made back in 1871.
Industrial oil production started at the foot of the volcano Thierimai, south of Cheribona (Western Java). Centuries have passed and today the county is one the world's 20 raw materials producer.
Technotec experts are sure that the political and economic situation throughout the world defines the oil industry development conditions, bringing forward the countries, that until recently could not compete with the major players in this industry.
The total reserves in Indonesia is 3.7 billion barrels. The largest oil field in the country, Banjul Jurup, has a production potential of 729 million barrels of oil. Now about 200 thousand barrels are supplied from this field every day, which is one-fourth of the total oil production in the country. Minas field production rates, operated by Chevron, are almost the same. ExxonMobil also operates in the country. The oil prices recovery provides the basis for investment in this sector of Indonesia.
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