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singaporegirl
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Huge New Oil Discovery Offshore Indonesia

Mon Feb 11, 2008 5:26 pm

http://www.thejakartapost.com/detail...ess.asp?fileid=20080211.L05&irec=4

Ever since we moved to Bali, I obviously became interested in the 'local' news, and thought this piece of news to be very interesting. Apparently they were trying to map the geology of the ocean floor after that massive 2004 Tsunami and found huge amount of oil (107 - 320 billion barrels!!!). If this news turns out to be true, I sure hope that the money will go to the Indonesian people, instead of some multinational companies.
 
Falcon84
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RE: Huge New Oil Discovery Offshore Indonesia

Mon Feb 11, 2008 5:28 pm

Great. Another Muslim-dominatied nation hits it big with oil.  Big grin

There goes R&D on renewable energy for another generation......
 
mham001
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RE: Huge New Oil Discovery Offshore Indonesia

Mon Feb 11, 2008 5:59 pm



Quoting Singaporegirl (Thread starter):
I sure hope that the money will go to the Indonesian people, instead of some multinational companies.

Pie-in-the-sky. It won't get out of the ground without the multi-national companies.
 
Confuscius
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RE: Huge New Oil Discovery Offshore Indonesia

Mon Feb 11, 2008 6:00 pm

Watch for China to make a claim for it just like in the Spratly Islands.

[Edited 2008-02-11 10:01:14]
 
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airportugal310
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RE: Huge New Oil Discovery Offshore Indonesia

Mon Feb 11, 2008 6:06 pm

So much for trying to reduce dependancy on oil...

What happened to that large discovery off of Brazil a few months back?
 
MaverickM11
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RE: Huge New Oil Discovery Offshore Indonesia

Mon Feb 11, 2008 7:05 pm



Quoting Falcon84 (Reply 1):
Great. Another Muslim-dominatied nation hits it big with oil.



Quoting AirPortugal310 (Reply 4):
What happened to that large discovery off of Brazil a few months back?

Just off of Rio de Janeiro and also some additional findings in the Gulf of Mexico as well...
 
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nighthawk
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RE: Huge New Oil Discovery Offshore Indonesia

Tue Feb 12, 2008 9:04 am



Quoting Singaporegirl (Thread starter):

your link appears to be going to the wrong article.

BTW - do you live in Bali, I am currently in Bali on holiday along with 3 other a.netters (myt332, jamotcx, LHRjc).
 
gkirk
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RE: Huge New Oil Discovery Offshore Indonesia

Tue Feb 12, 2008 9:08 am

When will the US go to war with Indonesia then?  stirthepot  duck 
 
oly720man
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RE: Huge New Oil Discovery Offshore Indonesia

Tue Feb 12, 2008 9:38 am

This seems to be the lastest link.

http://www.thejakartapost.com/detail...s.asp?fileid=20080211222834&irec=2

BPPT and its German counterpart Bundesanstalt furGeowissenschaften und Rohstoffe recently said they found a massive store of underwater hydrocarbon, which may contain oil and gas, around Simeulue island in Aceh.

Puts it at the Western end of Sumatra (the islands south of the coast near Medan).


If you google "107 - 320 billion barrels" you'll find lots of references to it.... probably all linking to the same source....
 
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yowza
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RE: Huge New Oil Discovery Offshore Indonesia

Tue Feb 12, 2008 9:39 am



Quoting Gkirk (Reply 8):
When will the US go to war with Indonesia then?

Well I'm sure the US sold something to Indonesia during Suharto's time that can constitute a global/regional security problem that would merit a "regime change" type mission. Crafty devils.

As for the oil, this could be used for so much good to help the country but I doubt the trickle down will happen as it should.


YOWza
 
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scbriml
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RE: Huge New Oil Discovery Offshore Indonesia

Tue Feb 12, 2008 11:48 am



Quoting Singaporegirl (Thread starter):
If this news turns out to be true, I sure hope that the money will go to the Indonesian people, instead of some multinational companies.

Without the help of external oil companies, they won't get anything out of the ground. In many countries, the way these discoveries work is that the local government sets up a national oil company that retains a 51% controlling stake in the fields, the remaining 49% is bid out to oil companies who end up spending $billions to develop the field and extract the product for sale. Those companies have every right to expect a fair return on their investment.

So, the local government gets 51% of all the sales resulting from the production, in addition to the taxes levied on that production. What they then spend that money on is up to them. One would hope it was for the betterment of the local population, but sometimes things don't work out that way (just look at Nigeria!)

Quoting YOWza (Reply 10):
As for the oil, this could be used for so much good to help the country but I doubt the trickle down will happen as it should.

That would be entirely dependent on the Government's use of the income.
 
aloges
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RE: Huge New Oil Discovery Offshore Indonesia

Tue Feb 12, 2008 11:59 am



Quoting Scbriml (Reply 11):
What they then spend that money on is up to them.

That's the kicker. If it works anything like it does in Equatorial Guinea, that term won't apply.
 
SBBRTech
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RE: Huge New Oil Discovery Offshore Indonesia

Tue Feb 12, 2008 12:34 pm



Quoting AirPortugal310 (Reply 4):
What happened to that large discovery off of Brazil a few months back?

Petrobras engineers said last year that it will take some 5 to 7 yrs until the extraction stats in full power. It's a nice reserve ( 800 km long and 200 km wide with 8 billion barrels a least )...
 
babybus
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RE: Huge New Oil Discovery Offshore Indonesia

Tue Feb 12, 2008 12:47 pm



Quoting SBBRTech (Reply 13):
( 800 km long and 200 km wide with 8 billion barrels a least )...

And they only just found it?  Confused
 
SBBRTech
Posts: 403
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RE: Huge New Oil Discovery Offshore Indonesia

Tue Feb 12, 2008 12:54 pm

Quoting Babybus (Reply 14):
And they only just found it?

Yeah, sounds crazy. But I think it's because its much deeper than the existing areas.

[Edited 2008-02-12 04:55:05]
 
baroque
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RE: Huge New Oil Discovery Offshore Indonesia

Tue Feb 12, 2008 1:46 pm



Quoting Oly720man (Reply 9):
This seems to be the lastest link.

http://www.thejakartapost.com/detail...s.asp?fileid=20080211222834&irec=2

BPPT and its German counterpart Bundesanstalt furGeowissenschaften und Rohstoffe recently said they found a massive store of underwater hydrocarbon, which may contain oil and gas, around Simeulue island in Ace

Er no. It is at
http://www.thejakartapost.com/detail...ess.asp?fileid=20080212.L02&irec=1
"Pertamina may develop massive reserve: BPPT

Ika Krismantari, The Jakarta Post, Jakarta

State oil and gas firm Pertamina will follow up on the recent preliminary finding by a state research agency of a large hydrocarbon reserve off the western shore of Nangroe Aceh Darussalam, an official says."

Well in simple terms, if a 100 billion barrel field had a 500 m thick reservoir, with 20% porosity it would be about:

77 4 square kilometres or

10 km wide by about 77 km long.

More likely effective porosity would be about 10% so the field would be

15 km wide by 100 km long.

Even underwater, a structure that large would be rather obvious. Also, from existing drilling, the reservoir section is more likely to be about 100 m thick, so multiply all those areas by about 5.

I think the answer is someone has slipped in billions where millions was intended. And if they are NOW going to run 3-D seismic, that means there is a structure that MIGHT contains some millions of barrels.

If you read the Jak Pos article carefully, it says POTENTIAL RESERVE which means it should be POTENTIAL RESOURCE. In other words it might be there or it might not.

The trench between the offshore islands and the coast has been drilled, as far as I can remember small gas shows, but no oil. The sections intersected could contain oil but are unlikely to be prolific.

Quoting Babybus (Reply 14):
Quoting SBBRTech (Reply 13):
( 800 km long and 200 km wide with 8 billion barrels a least )...

And they only just found it?

Er no, 800 km long and 200 km wide is the Santos basin not the field. I presume you mean the Jupiter field rather than Tupi.

Both are sub salt which means the discovery wells are difficult to extrapolate to reserves. So while it is possible that reserves may eventually be greater than expected, the difficulty of getting seismic returns through the salt is more likely to mean more complex structures which usually means less reserves than expected. Still, a nice couple of discoveries. The dominance of condensate in Jupiter suggests a high maturation level and that also usually means more difficult reservoir conditions. But early days. If I go quiet on the subject, it means I have seen the samples and am not just going on the surrounding data.
 
baroque
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RE: Huge New Oil Discovery Offshore Indonesia

Tue Feb 12, 2008 3:30 pm

As BPPT are thinking they might drill a FIRST well, there is NO discovery just a structure that might contain some fluids - could be oil, could be gas, but most are water.

Try looking up the pre-drill prognostications of any oil company that cares to tell you the potential of the sites they are drilling. There are hundreds in the billion potential range every week, but very few really ARE large discoveries.

Given the previous exploration in what appears to be this area, the chances of a major discovery WHEN they do drill are not high.

I just looked at a blog where some writers are already working out how Aceh should spend their income. Good grief. Odds are someone will be looking a bit embarrassed IF they do drill the structure.
 
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yowza
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RE: Huge New Oil Discovery Offshore Indonesia

Tue Feb 12, 2008 3:39 pm



Quoting Scbriml (Reply 11):
That would be entirely dependent on the Government's use of the income.

Sorry, it was supposed to be implicit in my statement that weak/corrupt leadership would deprive the people of the benefits they would receive had competent leadership been in place.

YOWza
 
cfalk
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RE: Huge New Oil Discovery Offshore Indonesia

Tue Feb 12, 2008 3:42 pm



Quoting Falcon84 (Reply 1):
Great. Another Muslim-dominatied nation hits it big with oil.

That was my first thought too.

Wouldn't it be wonderful if we could discover all the oil we need under, say, Nebraska?
 
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yowza
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RE: Huge New Oil Discovery Offshore Indonesia

Tue Feb 12, 2008 5:05 pm



Quoting Cfalk (Reply 19):

Wouldn't it be wonderful if we could discover all the oil we need under, say, Nebraska?

Maybe you're just approaching the problem wrong. Corn is a great base for man made ethanol fuels. There' plenty of that above the ground in Nebraska.

YOWza
 
Arrow
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RE: Huge New Oil Discovery Offshore Indonesia

Tue Feb 12, 2008 5:17 pm



Quoting Baroque (Reply 17):
As BPPT are thinking they might drill a FIRST well, there is NO discovery just a structure that might contain some fluids - could be oil, could be gas, but most are water.

Bingo. It takes a lot of holes to make a discovery. Even if the first one shows promise, the next ones might not. It took 25 years from the first gleam in Mobil's eye on the Hibernia field off Newfoundland to the first barrel of commercial oil produced.

Quoting Baroque (Reply 16):
If you read the Jak Pos article carefully, it says POTENTIAL RESERVE which means it should be POTENTIAL RESOURCE. In other words it might be there or it might not.

The media always struggles with those two words -- reserve and resource -- and of course "potential" is another nuance that gives them some grief.
 
cfalk
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RE: Huge New Oil Discovery Offshore Indonesia

Tue Feb 12, 2008 5:22 pm



Quoting YOWza (Reply 20):
Corn is a great base for man made ethanol fuels. There' plenty of that above the ground in Nebraska.

Ethanol causes even more CO2 emissions than gasoline, is highly inefficient (in terms of BTUs consumed in order to produce 1 BTU of energy in your car), and messes up food markets.

I have to say this though, it has been a fantastic success on the part of the Farmers' Lobby. Corn prices have gone from $1.50 to $5.00 in less than 3 years, in spite of the greatest corn crops in history.
 
RacingGreen07
Posts: 211
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RE: Huge New Oil Discovery Offshore Indonesia

Tue Feb 12, 2008 8:11 pm

Quoting Falcon84 (Reply 1):
Another Muslim-dominatied nation hits it big with oil.
I don't get it. Please explain if you would the following (maybe I misread your humour?):

Who cares if it is a Muslim dominated country that has found the oil?

Why does it matter?

And would you hear "Great another Christian country just struck oil"?

I think religion is above this matter.

I don't mean to start a flame war or anything, I just want to know how this fact is relevant?

I think its good in a sense that they have struck oil. The Indonesian economy can benefit greatly from this, better schools, healthcare and the rest.

But yes, in a way it is bad for global warming. Maybe future generations from all countries (Muslim, Jewish, Hindu, Sikh, Buddhist, red, green and yellow) will realise that we shouldn't be reliant on oil and that we should change our ways soon. Or were all gunna end up suffering...no matter WHAT country were in.

Regards.

EDIT: Spelling

[Edited 2008-02-12 12:13:15]
 
baroque
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RE: Huge New Oil Discovery Offshore Indonesia

Tue Feb 12, 2008 11:53 pm



Quoting Baroque (Reply 17):
Try looking up the pre-drill prognostications of any oil company that cares to tell you the potential of the sites they are drilling. There are hundreds in the billion potential range every week, but very few really ARE large discoveries.

Perhaps I should have mentioned that at the stage of this "discovery" oil companies refer to targets as "prospects" or more tellingly "plays".

If they all spent their time worrying about how to spend the profits from their plays, nobody would ever get round to drilling a hole.

My guess is that nobody will even think this prospect is worth drilling. So we will never know about this. And the most horrid bit is that it has already gone down as a super super major discovery - oh gawd!!!
 
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yowza
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RE: Huge New Oil Discovery Offshore Indonesia

Wed Feb 13, 2008 7:24 am



Quoting Cfalk (Reply 21):

Ethanol causes even more CO2 emissions than gasoline, is highly inefficient (in terms of BTUs consumed in order to produce 1 BTU of energy in your car), and messes up food markets.

I have to say this though, it has been a fantastic success on the part of the Farmers' Lobby. Corn prices have gone from $1.50 to $5.00 in less than 3 years, in spite of the greatest corn crops in history.

The Brazilians have done very well with "gasohol" which is derived from corn. My point was more for the USA being self reliant for energy rather than cleaning up it's act environmentally speaking. Especially since it's becoming apparent that we're reaching an impasse with regards to energy and the environment since the US will not commit to any radical changes unless India and China do the same. This is simply not going to happen.

YOWza
 
baroque
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RE: Huge New Oil Discovery Offshore Indonesia

Wed Feb 13, 2008 2:37 pm



Quoting YOWza (Reply 24):
The Brazilians have done very well with "gasohol" which is derived from corn.

Except the Brazilians make theirs from sugar cane as I understand matters. You might also not that Brazil has had a higher discovery rate for crude oil in recent years compared with the US. Perhaps there is a god up there rewarding countries for being careful with their gas!!

http://www.resourcesaver.com/file/toolmanager/O105UF1261.pdf

2005 discussion, including prices paid. It has an energy balance, but I am a bit suspicious of the energy data.

For corn ethanol
http://www.sfgate.com/cgi-bin/articl...le=/c/a/2005/06/27/MNG1VDF6EM1.DTL
"But in a recent issue of the journal Critical Reviews in Plant Sciences, UC Berkeley geoengineering professor Tad Patzek argued that up to six times more energy is used to make ethanol than the finished fuel actually contains.

The fossil energy expended during production alone, he concluded, easily outweighs the consumable energy in the end product. As a result, Patzek believes that those who think using the "green" fuel will reduce fossil fuel consumption are deluding themselves -- and the federal government's practice of subsidizing ethanol by offering tax exemptions to oil refiners who buy it is a waste of money. "

http://www.carbohydrateeconomy.org/l...oes_it_Take_to_Make_a_Gallon_.html
Old data but detailed accounting for corn ethanol.

Wiki suggests an energy balance of 1.3 for corn ethanol and 8 for cane based ethanol.

The only oil that will be less energy efficient than corn based ethanol, is the phantom oil of West Aceh!

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