Aceh Province Finds Gas Field Reserves 3 Times Larger Than Saudi Arabia I
OBROLANBISNIS.com — Ever imagine a country in ASEAN finds the largest gas reserves. This time Aceh Province has made glorious history in the energy sector with the discovery of giant gas and oil reserves that can overcome poverty problems.
The amount of these reserves is very large, reaching 4.68 billion barrels, which is three times more than the reserves owned by Saudi Arabia.
This discovery was made by Mubadalah Energi, an energy company from the United Arab Emirates in the South Andaman exploration block located about 100 KM off the coast of North Sumatra, precisely in Aceh Province.
This block, which is now in the world spotlight, was auctioned in 2018 and only received a management contract in February 2019.
Will Aceh become as prosperous as Saudi Arabia with the discovery of this fantastic oil resource that can even overcome poverty in Aceh province.
The location of this mine discovery is not arbitrary, the South Andaman place has rocked the international stage with the discovery of a gas column in a screen well with a thickness of more than 230 m in the oligocene reservoir.
This finding exceeded expectations found at a depth of 428 m below sea level. The team involved in this exploration managed to find a potential of 6 trillion cubic feet or TCF.
This will shake Saudi Arabia’s dominance on the world’s oil and gas reserves map. This finding was welcomed by the Aceh People’s Representative Council or DPRA who saw it as the key to raising the standard of living of the poor people of Aceh.
According to the data obtained, this oil and gas reserve is estimated to reach 4,685 billion barrels, making it larger than Venezuela, which is currently the country with the largest oil and gas reserves.
DPRA is optimistic that optimal utilization of this finding can make a major contribution to eradicating poverty in Aceh and carving out a new chapter in economic development.
However, major challenges also arise, managing and utilizing this wealth will have positive and negative impacts that are sustainable.
Not only highlighting the findings in Andaman but also in East Kalimantan. This shows that Indonesia can be a major player in the world’s oil and gas reserves map.
Global oil and gas investors are starting to view Indonesia as a promising investment destination, especially in areas that already have strong infrastructure and networks.
This success provides optimism for increased investment in this sector, the government and industry must work together.
Namely to ensure that this major discovery is not only a momentary achievement but also has a long-term positive impact on Indonesia’s economic development.
This opportunity must be balanced with the right management strategy and sustainable policies to ensure that this natural wealth can provide maximum benefits for economic development and people’s welfare.
That’s about the discovery of oil reserves in Aceh Province that exceeds Saudi Arabia.(***)
