Meeting The Strategy of Offshore Petroleum Exploration Based On Statistical Analysis Of Development Cost And Commercial Reserves In Indonesia
A.A. Azizurrofi and A. Asnidar
Event name: Saint Petersburg 2018
Session: Informational and analytical support for the Mineral Resources Base Development
Publication date: 09 April 2018
Info: Extended abstract, PDF ( 849.7Kb )
Price: € 20
This paper will evaluate and analyze the distribution of commercial reserves and development cost based on 95 offshore data projects to help Contractors to find the offshore area in Indonesia that has the highest commercial reserves and the lowest development cost. The purpose of this paper is, to divide the geographical areas of Indonesia into 5 different areas (Natuna Sea, West Java Sea , East Java Sea, East Kal. - Makassar Strait and Arafura Sea). Then, to collect the data that related with commercial reserves and development cost and then the commercial reserves and development cost are calculated and distributed to those aforementioned areas. Based on the analysis of 95 Projects (FDPs), Arafura Sea had the highest commercial reserves (1,273.38 MMBOE per Contract Area) and lowest development cost (9.92 US$/BOE), meanwhile East Java Sea had the lowest commercial reserves (48.68 MMBOE per Contract Area) and West Java Sea had the highest development cost (20.08 US$/BOE). Based on analysis, the offshore area in eastern of Indonesia had the lowest development cost and the highest commercial reserves, which consequently mean that the offshore petroleum exploration activity should be done by contractors in eastern area of Indonesia.