Indonesia Achieves Oil and Gas Production Target in First Semester

JAKARTA, KOMPAS.com – Indonesia’s state oil and gas firm PT Pertamina through its subholding for upstream achieved its oil and gas lifting target of 850 million barrels of oil equivalent per day (mboepd) in the first half of 2021 despite the Covid-19 pandemic challenges.

PT Pertamina Hulu Energi development and production director Taufik Aditiyawarman said that gas production from January to June stood at 2,665 million standard cubic feet per day (mmscfd) while oil lifting stood at 390 million barrels of oil per day (mbopd).

The achievement as targeted in the Work, Program, and Budget (RKAP) is based on a combination of lifting from the domestic field of 699 mboepd and the international field of 151 mboepd.

Also read: Indonesia’s Pertamina Commits to Reduce Fuel, LPG Imports

“Many factors have supported the achievements in the first half of 2021, including the implementation of operational excellence performance and optimizing costs at all levels,” Taufik said in a statement on Sunday, August 1.

He said as of June, the drilling of 101 out of 396 development wells as targeted in the RKAP have been completed, while 20 others are still in the process. As for Work Activities, 241 out of 466 activities have been completed and 5,085 wells have also been completed in the wells intervention. The subholding for upstream will continue the activities to increase reserves through seismic activities and drilling exploration wells.

From January to June, the realization of the 3D areas has reached 201 square kilometers along 1,186 kilometers 2D seismic areas. As for the drilling of exploration wells, six wells have been completed and three others are still in the process. By the end of the year, it is expected that the Upstream Subholding will complete a total of 19 exploration wells.

Also read: Indonesia Aims to Reach Upstream Oil and Gas Sector Target Next Year

Under additional reserves, up to the first half of this year, the Upstream Subholding has recorded additional 1P reserves of 36.3 million barrels of oil equivalent (mmboe) and additional reserves of Contingency Resources 2C reaching 37.8 mmboe.

“Besides, we will optimize additional production from the Rokan Block which will be managed by PT Pertamina Hulu Rokan (PHR) as of August 9, 2021,” said Taufik.

He further added that this year PHR plans to drill about 130 development wells which include the remaining wells from CPI. PHR is also preparing about 290 wells in 2022, the highest number of wells investments. Besides, there will be a total of 16 drilling rigs and 29 rigs under the Work Over and Well Service activities.

(Writer: Rully R. Ramli | Editor: Erlangga Djumena)

Source: https://money.kompas.com/read/2021/08/01/181200826/semester-i-2021-produksi-migas-pertamina-capai-850-juta-barrel-mboepd.