Economic Valuation of Natural Resource in Kamojang Geothermal Area of West Java

Abstract

Natural resource is something the can utilized for various purposes and needs of human life. Natural resources must always be well kept and preserved, because of its limited resources. Kamojang geothermal area is an area containing abundant of natural resources, where the geothermal energy is converted to electricity. Besides containing the geothermal potential energy, Kamojang is also an area of Nature Park, Production Forest, Horticultural Agriculture and ecotourism. The area of Kamojang is located in the border of two different regions: Regency of Bandung and Regency of Garut in West Java. The regular control is conducted by the PT. Pertamina Geothermal Energy as administrator of Kamojang geothermal area and BKSDA of West Java as administrator of Nature park and Ecotourism. Therefore, preservation of Kamojang area is still maintained. By appropriate management from PT. Pertamina Geothermal Energy and the local governments of Kamojang area, it is expected that this area can be better quality of environment in the future. The direct use value significances of Kamojang geothermal area is IDR 1.810.197.943.950, while its indirect use value significances is IDR 3.011.714.430. The existence value of natural resources in Kamojang geothermal area is IDR 8.023.230.000, and the bequest values of natural resource in Kamojang geothermal area is IDR1.139.490.000. The total economic value derived from Kamojang geothermal area is IDR 1.822.372.378.380.