How can EOR improve oil and gas production in Indonesia?
Enhance production capabilities for existing fields. Indonesia’s existing oil and gas fields are aging. More than 60% of oil production and more than 30% of gas production come from late-life-cycle resources. EOR techniques can significantly extend the life of older fields and boost the amount of oil and gas recovered.
Why does Indonesia have a shortage of oil & gas?
(Indonesia’s potential petroleum resources total 150 billion barrels of oil and 490 tril-lion cubic feet of gas.) Yet in 2015, Indone-sia required imports to cover more than 50% of domestic consumption. There are several reasons for the shortfall. The most significant is that existing oil and gas fields are maturing.
Why does Indonesia consume more energy than it produces?
But the combination of strong growth in the national economy (projected at 5.2% per year through 2025) and declining oil and gas production from maturing fields is causing Indonesia to consume more energy than it produces. Domestic production cov-ered less than half of consumption in 2015.
Is Indonesia a leader in the global LNG export market?
Indonesia is a large player in the global LNG export market. In the 1990’s it accounted for one-third of international trade of the resource. However it has lost it market dominance due to a rise in LNG exports from competitors such as Qatar, Australia and the US.