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First Quarter of 2021, Pertamina's Oil and Gas Production Exceeds the Target

 


    PT Pertamina Hulu Energi, the Sub holding Upstream of PT Pertamina (Persero), managed to record oil and gas production of up to 861 thousand barrels of oil equivalent per day / BOEPD in the first quarter of 2021. This realization is 2% higher than the company's target this year of 848 thousand BOEPD.


    Pertamina Hulu Energi President Director Budiman Parhusip said the contribution of oil and gas production came from the oil and gas block assets of the company and its affiliates, namely PT Pertamina EP, PT Pertamina EP Cepu (PEPC), PT Pertamina Hulu Indonesia, PT Pertamina Internasional EP, and several other companies. Asset companies spread at home and abroad.


"This achievement is 147 thousand BOEPD from international oil and gas fields and 713 thousand BOEPD from domestic. We are grateful that for the first quarter of 2021, we were able to hold back the rate of decline in natural products in the majority of our fields, "he said.

    He explained that the actual gas production until the end of March was recorded at 2.405 million standard cubic feet per day / MMscfd or 4% above the company's first-quarter target of 2,318 MMScfd. Meanwhile, the realization of ready-to-sell gas production was 1,914 MMscfd. Inline, oil production from domestic oil and gas blocks is also very good.

"Until March 2021, domestic oil production will reach 298 thousand barrels per day (BPD), while the lifting is 290 thousand BPD. We continue to strive to be able to meet the targets that have been set, "added Budiman. Meanwhile, oil production from foreign assets was recorded at 97 thousand BPD and gas 291 MMScfd.

    The company has completed 1,647 kilometers (km) of 2D seismic, 33% higher than the target, and 198 square kilometers (km2) of 3D seismic. For exploration drilling, the company has completed one well and four other wells are still under construction. 

    Next, his party has completed the drilling of 46 development wells and worked on 66 other wells. His party also succeeded in reworking wells with as many as 124 activities or 13% more than the target and Well intervention 2,334 activities from the target of 2,301 activities.

    The existence of organizational changes in Pertamina, especially the formation of Upstream Subholding, has made Pertamina's upstream oil and gas activities more adaptive, agile, and efficient. Through this sub-holding, the synergy of all work areas through regionalization can increase operational excellence, accelerate the business development process, and make decision-making faster and agile due to reduced bureaucratic processes.

"Subholding Upstream Pertamina will continue to strive for optimal performance by trying to maintain production and lifting as well as continuing exploration, development, and innovation activities in all upstream companies to achieve the target this year," said Budiman.

Investor Daily, Page-8, Monday, May 3, 2021.

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