Indonesia's Pertamina Finds 3 New Oil and Gas Reserves in 1Q of 2019
Exploration of Pertamina - Photo by Pertamina

JAKARTA (TheInsiderStories) – Indonesian energy producer PT Pertamina found two new oil production reserves and one gas reserve in the first quarter (1Q) 2019, said a senior officer on Wednesday (04/10). Furthermore, the state-owned company will explore 27 wells in the existing working area and 319 exploitation wells so far this year.

Pertamina Upstream Director Dharmawan H. Samsu, explained that in the 1Q of 2019 its subsidiary PT Pertamina Hulu Energi, Joint Operation Agency of PT Bumi Siak Pusako-Pertamina Hulu (BOB PT BSP-Pertamina Hulu) found oil reserves from Benewangi well, in Riau province. The wells that were completed at the beginning of 2019 will produce 540 barrels of oil per day (BOPD).

To develop Benewangi, Pertamina Hulu Energi has identified several prospective basement play located in the surrounding working area with estimated resources around 500 million barrels of oil (MMBO). This prospect has a similar petroleum system with Benewangi.

Furthermore, in February 2019, PT Pertamina EP also managed to find oil and gas reserves from the Randuwangi well in the Subang area of ​​West Java, which was estimated at 15 million barrels of oil equivalent (MMBOE).

In addition, Samsu explained, during this quarter Pertamina EP also managed to find gas and condensate reserves in the Pertamina EP Asset 4 area in Toili District, Banggai Regency, Central Sulawesi.

According to him, the discovery of the exploration well Morea-001 is a continuation of the discovery of reserves from last year’s exploration drilling in the Wolai structure with contingent resources of around 250 billion cubic feet of gas (BCFG) plus several MMBOE.

With the discovery of new oil and gas reserves from the Morea structure, Pertamina believes in continuing to explore seismically and drilling, as well as implementing acceleration and synergy of the EOR (Enhanced Oil Recovery) program to increase oil and gas reserves.

“For new field exploration, we have a definite investment commitment. We provides investment funds of more than US$200 million for seismic programs. Reserves that have not been drilled, will be drilled to prove the existence of new oil and gas reserves,” he said in a written statement.

Furthermore, Pertamina continues to strive to find a new venture focused on five new exploration areas. One of them is to open access to the new Maratua working area in North Kalimantan.

“We will continue to carry out upstream oil and gas exploration activities. This year we also aim to complete 31,000 km of 2D seismic surveys in the Indonesian frontier region, and start preparing 3D seismic surveys at the Maratua WK exploration,” he said.

This year, Pertamina will strengthen its upstream business by conducting a drilling program doubling from last year’s 346 wells to support government programs in increasing oil and gas reserves and maintaining the sustainability of national production as well as national energy security.

Written by Daniel Deha, Email: daniel@theinsiderstories.com