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THE SMART NEWS SOURCE | Feb 10 2012 21:36 | LAST UPDATED Feb 10 2012 21:36 |
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Indonesia's Department of Energy and Mineral Resources has indicated that Sasol, the world's largest fuel-from-coal producer, plans to invest $10-billion by 2015 to develop coal liquefaction plants with a combined capacity of 1,1 million barrels per day. According to a report carried by Industrial Info Resources on Friday, Sasol is conducting feasibility studies for the proposed venture and hopes to wrap up the assessment by the end of this month. The proposed coal-to-liquid (CTL) units will have an initial output of 80 000 barrels per day of oil products and later be expanded to accommodate a capacity of 1,1 million barrels per day. Construction is estimated to take five years, and the plants are scheduled to go on stream by 2015. Sasol is said to be in talks with local companies including Indonesian oil and coal-mining firm PT Bumi Resources and state-owned oil firm PT Pertamina. Indonesian officials said the liquefaction plants would operate on low-priced lignite, ensuring profitability for as long as crude oil prices exceed $35 per barrel. Indonesia has an estimated 36 billion tons of lignite or about 60% of the country's coal deposits. A member of the Organisation of Petroleum Exporting Countries since 1962, Indonesia's oil production has been declining, with 2007's production hitting 969 000 barrels per day – well off its peak production of 1,669 million barrels per day in 1991. Indonesia's oil and condensate production is projected to reach 911 000 barrels per day in 2010.  CONTINUES BELOW Indonesia has recoverable coal reserves of an estimated 5,5 billion tons. -- I-Net Bridge TOPICS IN THIS ARTICLE
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