PT Pertamina reported in the first semester (1H) of 2019 has produced 413 million barrels oil per day (MBOPD) and gas amounted to 2,856 million metric standard cubic feet per day (MMSCFD) - Photo by Pertamina

JAKARTA(TheInsiderStories) – Indonesia’ state-owned oil and gas PT Pertamina reported in the first semester (1H) of 2019 has produced 413 million barrels oil per day (MBOPD) and gas amounted to 2,856 million metric standard cubic feet per day (MMSCFD). While oil and gas lifting 371 MBOPD and 2.154MMSCFD, respectively.

“This achievement is mainly supported by the performance of Pertamina’ subsidiaries in the upstream sector which is some of them exceed the specified target,” Upstream Director of Pertamina, Dharmawan Samsu told reported in Jakarta on Thursday (07/18).

He gave an example, PT PHE Ogan Komering’ oil and gas production reached 1,377 BOEPD or far exceeding from the initial target of 905 BOEPD. Then, PT PHE Jambi Merang produced 15,767 BOEPD from prior target of 15,712 BOEPD. In addition, PT Pertamina-Medco EP Tomori Sulawesi JOB has exceed is initial production target from 59,640 BOEPD to 66,134 BOEPD in the 1H 2019.

The current achievement of Pertamina’ oil and gas production, added Samsu, cannot be separated from the company’ policy in investing in the upstream sector. Overall, the energy producer has invested in the upstream sector around US$2.6 billion or around 60 percent of this year’ total investment $4.2 billion.

Beside the existing block, the oil and gas holding also announced will produced 1,523 BOPD from six new wells owned by PT Pertamina EP Asset 5 in Borneo island, which is targeted to produce in fourth quarter of 2019. The he wells located in Bunyu, North Kalimantan and Sangatta, East Kalimantan.

PEP Asset 5 is one of the PT Pertamina EP units operating in Kalimantan region. This unit oversees  five fields operation. Based on the company data, since end of June, PEP Asset 5′ crude oil production was 17,905 BOPD, while natural gas production was 16.57 MMSCFD.

In the same month, PT Pertamina Hulu Mahakam also conducted drilling in Mahakam Block Working Area of 52 from 118 development wells target. Samsu explained that since managing the Working Area, Pertamina boosted its operations to keep natural decline rate in production which in 2017 had reached 57 percent.

“This figure is currently successfully suppressed by Pertamina at the level of 25 percent and efforts continue to be carried out maximally through drilling as planned,” Samsu said.

He revealed, the company will continue to drill 118 wells until end of 2019 and its expected in-year decline rate can be held flat. While at the same time starting to prepare for exploration well drilling in 2020.

Samsu also said that last year, Pertamina managed to produce gas about 5 percent above the prediction of previous operators. Even for 2019, Pertamina targets Mahakam production to be higher than previous operator proposals.

“This target is quite challenging considering fairly high maturation level of existing production zone. So, Mahakam current production contribution comes from smaller reservoir pockets with closer spacing of age,” said the director.

Written By Willy Matrona, Email: theinsiderstories@gmail.com

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