The oil reserves will continue to decline every year but the decline can be anticipated by relying on renewable technology.Pekanbaru, Riau (ANTARA News) - Indonesia`s oil reserves currently reach 4.4 billion barrels or 0.2 percent of global oil reserves, according to the Upstream Oil and Gas Executive Task Force (SKK Migas).
"The oil reserves will continue to decline every year but the decline can be anticipated by relying on renewable technology," SKK Migas chief for northern Sumatra region Agung P Budiono said on Monday.
China which has 14.8 billion barrels of oil reserves takes the lead among Asian countries, followed by India with 5.8 billion barrels, Malaysia with 5.5 billion barrels, Vietnam with 4.5 billion barrels, and Brunei Darussalam with 1.1 billion barrels, he said.
Australia now has oil reserves of 4.2 billion barrels, he said.
To anticipate a decline in oil reserves, the Jakarta-based energy think tank ReforMiner Institute has suggested that the Indonesian government find renewable energy soon while at the same time improving technology to maintain oil production.
Efforts to find renewable energy should be made as soon as possible to maintain national oil production, ReforMiner Institute Deputy Director Komaidi Notonegoro said.
"With renewable energy, this nation should no longer rely on natural oil which continues to deplete and will run out any time in the future," he said.
The declining oil reserves which are only enough to meet oil consumption in 11 years` time pose the biggest ever challenge for Indonesia in energy resources, he said.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2013
