Unexplored oil and gas reserves in eastern Indonesia could be vital to the country's energy supply in future, Energy and Mineral Resources Minister Darwin Zahedy Saleh said Wednesday.
"While many oil and gas fields are maturing, continuing their natural decline, we're optimistic that the frontier and deep water areas, mostly in eastern Indonesia, will contribute significantly to future production," Darwin said at the opening of the 35th Indonesian Petroleum Association (IPA) Annual Convention and Exhibition in Jakarta.
He added that the government had launched several initiatives to encourage investment in this area, including to increase the number of offered working acreages for oil, gas, coal bed methane (CBM) and geothermal energy.
"We're confident we'll see a positive response to new blocks offered in deep water and fontier areas such as Semai, Halmahera, West Ary, South West Timor and South Java," Darwin said.
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