The Indonesian Petroleum Association (IPA) will hold its 35th IPA Convention and Exhibition on 18-20 May 2011 at the Jakarta Convention Center, carrying the theme “Indonesia Energy: Growth, Security and Sustainability.”
IPA President Ron Aston said the theme is very relevant to Indonesia today: its remarkable economic growth, maturity of its producing oil fields, the focus of exploration on the abundant-but-unproven reserves at the frontier areas and the increasing efforts to unlock its unconventional gas.
“A major producer of hydrocarbons for many years, Indonesia still has significant untapped potential reserves of oil & gas,” he said in IPA press release sent to Investor Daily on Tuesday (5/4).
Aston explained that according to 2010 data from the Ministry of Energy and Mineral Resources, Indonesia has proven and potential crude oil reserves of 7.8 trillion barrels (combined). Meanwhile, proven and potential gas reserves stood at 157.1 trillion cubic feet (combined).
“The country’s emerging economy generates escalating domestic demand on energy whilst at the same time Indonesia needs to continue leveraging oil & gas exports as a source of export revenue,” he added.