Top 10 Shale Oil Rich Nations - 10 - INDONESIA

Tim Haïdar

10) Indonesia

Komodo Dragon

Technically recoverable shale oil: 8 billion barrels
Prime prospect locations: Sumatra, Kalimantan, Java, Sulawesi
Current oil production (bpd): 974,260
Current gas production (tcf): 2.69

Indonesia was the first significant oil producer in South East Asia, with oil first discovered in 1885 when it was still the Dutch east Indies. Entering OPEC in 1962, in 2009 Indonesia became one of only two countries to ever withdraw from the oil cartel, siting significant declines in production.

In April 2012, the Indonesian government initiated four shale gas study projects and, in May 2013, the first contract for shale gas exploitation was announced with production projected to begin in 2018.

May 2013 also saw Director General of Oil and Gas at the Indonesian Ministry of Energy and Mineral Resources, Edy Hermantoro, announce that the country would invite domestic and foreign investors to study the potential for shale oil production.