Indonesia's Proven Oil Reserves Only Enough for 12 Years
Indonesia's proven reserve of oil has been reduced to 6 billion barrels of 1 per cent of world petroleum reserves, an official said.
Deputy chairman of the oil fuel socialization team Hardy Prasetyo said the reserve will last only for the next 12 years with a daily output of 1 million barrels per day.
Prasetyo said the country's potential reserves are estimated at only 4.82 billion barrels.
The dwindling reserve will leave a serious problem in the next 10 to 20 years, he added.
He said oil is a renewable energy source but oil reserves will take 150 million years to recover after depletion.
He said the country's demand for oil fuel rises 5 per cent annually resulting in growing imports from year to year.