REPUBLIKA.CO.ID, JAKARTA - A total of 12 Production Sharing Contracts (PSCs) of foreign oil and gas in Indonesia lost up to 1.9 trillion USD in 16 exploration blocks in the sea. They failed to get the economical oil and gas reserves.

Deputy of Planning Control at Upstream Oil and Gas Special Task Force (SKK Migas) Aussie B Gautama said drilling oil and gas exploration in deep sea had been initiated since 2009 to 2013 by 12 PSCs in 16 blocks. Drilling exploration had been carried out as many as 25 wells.

"However, until now they have not managed to find commercial oil and gas reserves," Gautama said on Wednesday.

All losses during the period should be borne by the foreign PSCs must bear the losses and the government will not pay for reimbursement since the losses are inevitable. Exploration of oil reserves in deepwater areas requires huge capital and must brave to take risks. In fact, after the drilling, a number of foreign PSCs still failed to find oil and gas reserves.

Those PSCs finally intends to pull out from working areas and planed to return it to the government. Head of SKK Migas, Rudi Rubiandini said currently Indonesia's oil reserve only about 3.6 billion barrels and it is expected to be gone within next 12 years. 

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