Interesting article -Let's hope QPN Spud all three wells they are about to drill. -including the large land mass they now own, which according to the research and data on there website,including from other research papers there are some potential big reserve oil and gas fields which have been untouched in South Samatra.
Indonesia is already short of supply due to demand including there Countries adjacent
Ref Jarkata Post
RI TO EXPERIENCE FUEL DEFICIT OF 3 MILLION BPD BY 2030 Slamet Susanto, The Jakarta Post, Yogyakarta | Archipelago | Tue, July 02 2013,
Indonesia could experience a deficit in fuel of some 3 million barrels per day (bpd) by 2030 if no breakthrough was made to deal with the current energy crisis, an executive with the Indonesian Petroleum Association (IPA) has said.
“This is a concern for the younger generation,” IPA executive director Dipnala Tamzil said in a public lecture, held ahead of a workshop entitled “Professional Personal Development For Competitive Youth” at Gadjah Mada University (UGM) on Saturday.
The workshop was part of the IPA Goes to Campus program held in cooperation with UGM, The Jakarta Post and The Jakarta Post Foundation. Some 400 university students from Yogyakarta and surrounding areas joined the program.
Saturday’s event was the first of a series of workshops to be held this year; further events are scheduled, including campuses in Jayapura (Papua), Surabaya (East Java), Makassar (South Sulawesi) and Balikpapan (East Kalimantan).
Dipnala said that the prediction was based on the assumption that Indonesia would have stable economic growth of about 6.2 percent annually and if energy consumption increased by 5 to 7 percent a year.
“By 2025, our need for energy will increase by 50 percent, 60 percent of which will be fulfilled by gas,” said Dipnala.
He also expressed concern over the many old oil wells in Indonesia, where the production tended to keep decreasing each year. However, opening up new wells would be a real challenge especially due to the high cost.
He said that to avoid a crisis in energy, investment in the sector had to be increased. If the average investment currently was $12 billion per year, by 2021-2025 it had to be increased to twice that amount.
Another speaker at the public lecture, IPA communication committee chairman Achmad Yuniarto, said that energy growth worldwide would reach 30 to 35 percent annually and the biggest growth would be in the Asia Pacific region.
By 2020, he said, Indonesia would need some 8.3 million barrels of energy per day, an increase from the current 2.4 million barrels. The problem was, Indonesia currently could only produce some 2 million barrels of fuel daily, a figure that was not easy to maintain.
He also reminded the audience that the world was still heavily dependent on fossil fuel to fulfill its need for energy because it was so far the cheapest and the reserves were still relatively plentiful.
“Alternative energy finds it difficult to compete with fossil fuels, especially because of its high cost. Yet, development of alternative energy has to be initiated and supported by the government,” he said.
Meanwhile, senior journalist Endy Bayuni said that energy had become a central issue, aside from the issue on food. To make younger generations players in their own country, soft skills were a prerequisite. One of which is the skill to communicate effectively.
“Effective communication is an indispensable soft skill,” said Endy, who is also a former editor in chief of The Jakarta Post.
He also blamed lack of soft skills among the Indonesian workforce, especially the skill to communicate effectively in written and oral English, for the current deficit in managers in the economic sector, forcing business players to hire non-Indonesian executives.
“Soft skills are just as important as hard skills,” he said.
Separately, UGM Rector Pratikno reminded the participating students of the importance of preparing themselves to be players rather than spectators in their own country in terms of economic development.
“We are entering the century of the south,” he said, referring to the world’s emerging economies, including China, Brazil, India and Indonesia.
Indonesia, he said, is currently ranked as the world’s 16th biggest economy and is predicted to be among the 10 biggest economy’s globally by 2040.
“This will mean nothing if you don’t play a role. You have to have the power to compete,” he told the audience.
QPN Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
