Bula, located on Seram Island near Ambon in the Maluku region of Indonesia, has a long-standing history in the oil and gas industry. It is recognized as the site of the first oil discovery in eastern Indonesia, with exploration dating back to 1897.
The Bula oil field has historically been an essential contributor to Indonesia’s oil production. However, it is now in its later stages of production, having recovered most of its economically viable reserves by 2012.
The region sits within the Seram Basin, which has proven petroleum systems with multiple play types. The Plio-Pleistocene and Jurassic carbonate plays, including the Manusela Formation, are particularly significant for their oil and gas reserves. Additionally, ongoing exploration and advancements in geological assessments, such as Play-Based Exploration (PBE), indicate potential untapped reserves in southeast Seram.
Current projections estimate production will continue until around 2039, as economic factors allow for diminishing yields