"The boost in the oil and gas reserves marked a successful year for investment in the sector," said Yusgiantoro who confirmed that some 70% of the additional reserves came from state-run PT Pertamina's new oil and gas finds.

Furthermore, Yusgiantoro was happy to report that the 15 new oil and gas contracts signed last year have resulted in a total exploration commitment of around US$140.9 million to the local oil and gas sector.

Indonesia's Director of Exploration and Exploitation, Indrayana Chaidir, confirmed that - with the addition of the new reserves - Indonesia's total potential and proven oil and gas reserves currently stands at around 10.7 billion barrels of oil and 190 trillion cubic feet of gas.