By popular demand...=)
1996: Indonesia - Oil
Throughout the archipelago there were sixty known basins with oil potential; only thirty-six basins had been explored and only fourteen were producing.Yosef Ardi, 2006: Chevron In Indonesia: A Wakeup Call.
rarely we check whether these guys are honest enough in their commitment to boost the country's oil output. Chevron's operations deserved huge attention since the company is the largest oil producer in Indonesia, producing 478,000 barrels per day, roughly half of the country's total output, from it's wells across Riau province. It operates three blocks (Duri-Minas, Siak, and MFK) in Riau and Kisaran block in North Sumatra. Chevron's Indonesia oil operation contributes net earning of US$392 million in the first half of 2006, according to the company's report to NYSE. Gas operations gave net earning of US$596 million in the same period to make total Indonesian contribution of US$988 million to Chevron's net income (US$8.35 billion). For the whole year, Chevron Indonesia's operations would contribute up to US$2 billion net earnings for Chevron. It's HUGE! It's just too huge to say Indonesia's investment climate is not competitive compared to other countries. Where else Chevron could make such a chunk of profit?
Chevron in Indonesia
Chevron has positioned itself as Indonesia's top oil and gas producer thanks to our world class technology and expertise. ...2007: Chevron: Indonesia Fact Sheet.
During these operations, a new technology for deepwater exploration called controlled source electromagnetic survey was conducted for the first time in Indonesia.
Chevron's total daily production averaged 503,000 barrels of liquids per day in 2007, making us the country's largest oil producer.Feb 2008: Chevron Indonesia crude oil output set to drop
Despite an expected decline in Chevron's output, Indonesia's overall oil output, including condensates and crude oil, should rise by 10 percent to 1.05 million bpd, up from an average of 954,300 bpd in 2007, Warnika said.May 28th 2008: Indonesia to Pull Out of OPEC
The expected increase should come from a number of oil fields, including those operated by ConocoPhillips (COP), BP Plc (BP) and Indonesia state energy firm PT Pertamina, he said.
Purnomo said the decision to leave OPEC was made by the cabinet of President Susilo Bambang Yudhoyono, who said this month that the country needed to concentrate on increasing production.May 29th 2008: Chevron May Pump Gas From Indonesia's Deep Sea Areas
May 29 (Bloomberg) -- Chevron Corp., the second-largest U.S. oil company, may start pumping natural gas from Indonesia's deep-sea areas by 2016, boosting exports as Asian buyers pay near-record prices for the cleaner-burning fuel.
Fields in the Ganal block off Borneo island could produce ``close to'' 1 billion cubic feet a day at their peak, Steve Green, head Chevron's Indonesian and Philippine operations, said in Jakarta. That's 13 percent of current output in Indonesia, the world's third-largest liquefied natural gas exporter.
INDONESIA: PREDICTION BASED ON ABIOTIC PRINCIPLES
ReplyDeleteReference,
(OIM) Post, Hydrocarbon Outgassing Causes Mud Volcano, June 11, 2008, Comment #1, Indonesia: Least Explored, Best Candidate for Abiotic Oil Regeneration, 6/11/08.
One of the criticisms of abiotic theory was that it was not easily transferable to actual oil exploration and production.
This is fast changing, as oil exploration and production moves into well depths and geologic formations in which "fossil" theory predicted there would be "NO OIL" (emphasis added).
A theory ain't much good, if it predicts no oil will be found. And, then other explorers, using a better theory, come up, striking it rich -- that's called having egg on your face -- big time.
Such is the situation of "fossil" theory. Why did that happen? Because in order to put down abiotic theory, which predicted deep, large deposits of oil -- "fossil" theory said: "No. There ain't no oil down there, abiotic oil is impossible -- don't waste your time and money."
Who turned out to waste time and money?
And by following the "fossil" heads' advice, many got left at the dock.
Anyway, back to Indonesia.
This writer didn't know much about Indonesia, other than it was an early oil producer, the Japanese attacked the Dutch East Indies to steal the oil, and Indonesia had dropped out of OPEC, after being an original charter member.
But this writer did know something else: Abiotic oil principles.
And with that basic knowledge, was able to predict that Indonesia was under-explored based on its "Abiotic Geology."
"Abiotic Principles" led to the prediction, and thanks to OilIsMastery, the reader can see this writer turned out to be pretty accurate in my assessment:
"Throughout the archipelago there were sixy known basins with oil potential; only thirty-six basins had been explored and only fourteen were producing."
Okay, Chevron is using cutting edge technology -- they ain't using wooden oil derricks.
Still, the larger prediction stands -- and that was based on "Abiotic Principles."
Excerpt from Indonesian Oil:
"Indonesia's oil reserves were usally found in Medium and small-sized fields, so that continued exploration was vital to maintain production and known reserves."
Could there be deeper, larger, oil trapping geologic reservoir structures?
This writer suspects we will find out.
INDONESIA: TECTONICALLY ACTIVE: SCORES HIGH ON "CRUSTAL ACTIVITY CONTINUUM"
ReplyDeleteReference,
Indonesia -- Geography
(Available on Google)
"Tectonically, this region -- especially Java -- is highly unstable... The country has numerous mountains and some 400 volcanoes, of which approximately 100 are active. Between 1972 and 1991 alone, twentynine volcanic eruptions were recorded, mostly on Java. The most violent volcanic eruptions in modern times occured in Indonesia. In 1815, a volcano at Gunung Tambora [erupted]... claimed 92,00 lives and created "the year without a summer" in various parts of the world. In 1883 Krakatau in the Sundra Strait between Java and Sumatra, erupted and some 36,000 West Javens died form the resulting tidal wave. The sound of the explosion was reported as far away as Turkey and Japan. For almost a century following that eruption, krakatua was quiet, until the late 1970s, when it erupted twice..."
"Sea depths in the Sundra and Sahul shelves average 200 meters or less..."
Clearly, this is one "hot potato" volcanically, but also the sea depth is relatively shallow -- easy for offshore drilling rigs to explore for elusive larger oil deposits "at depth."
Indonesia is ripe for "Abiotic Principles" to be applied in the quest for oil.