Pertamina Boosts Oil & Gas Production in the First Quarter of 2022

Source: 4/29/2022, Location: Asia

PT Pertamina Hulu Energi (PHE), as Pertamina's Upstream Subholding, continues to improve its performance to support national energy security. With working areas spread across Indonesia and abroad, PHE managed to carve a cumulative figure of domestic and overseas production in the first quarter of 2022, which is 523 MBOPD (thousand barrels of oil per day) and 2,612 MMSCFD (million cubic feet per day) for gas. PHE has also completed the drilling of 144 development wells and two exploration wells.

PHE Development & Production Director, Wiko Migantoro, revealed that Pertamina's Upstream Subholding achievement cannot be separated from stakeholders' collaboration, synergy, and support . "Currently, the largest gas production comes from PT Pertamina Hulu Mahakam (PHM), and the largest oil production comes from PT Pertamina Hulu Rokan (PHR)," he explained.

In 2022, Upstream Subholding has an aggressive work plan. It includes the drilling of 813 development wells; drilling of 29 exploration wells, additional workover plans; well maintenance, and well reactivation; ensure onstream development of OPLL 2A, SLO Stage 1 Rokan, Jambaran Tiung Biru, ABG Gantar Optimization, Zulu Phase 2; maintenance and improvement of the integrity of production facilities; and encourage the achievement of waterflood in PEP, PHE, PHI.

In compliance with applicable regulations, Upstream Subholding is committed to implementing the Domestic Component Level (TKDN) implementation that supports government programs to increase national capacity and multiplier effect for the entire domestic industry.

In the first quarter of 2022, Pertamina's Upstream Subholding recorded TKDN achievements of up to 50, 41%. This TKDN achievement was obtained from procurement activities throughout the Upstream Subholding environment with a Goods TKDN of 28.97% and Services TKDN of 80.51%.

Subholding Upstream also continues to push for a cost optimization strategy as one of the corporate cultures through the OPTIMUS (Upstream Optimization) program. In 2022, efforts for Cost Optimization and Revenue Growth will continue with a target of 160 Million USD. As of March 2022, Pertamina's Upstream Subholding has recorded a cost optimization of 33.3 million USD.

Pertamina's Upstream Subholding has various initiatives in achieving targets. The strategies implemented include the preparation of a carbonization strategy and the Environmental Social & Governance (ESG) Score; proposal for fiscal incentives; increasing secondary-tertiary recovery, structural rejuvenation, and reactivation of suspended wells; improvement of upstream plant reliability; acquisition of domestic & foreign oil and gas operators/blocks; acceleration of exploration; and inclusive fast track of superior talent.

In carrying out operational activities, Pertamina's Upstream Subholding always pays attention to aspects of Health, Safety, Security, & Environment (HSSE) to maintain workplace safety. Therefore, it remains safe and pays attention to the environment around the operational area. It is evidenced by the zero number of accidents (NoA) and 94,500,000 safe working hours in the first quarter of 2022. Pertamina's Upstream Subholding also continues to develop professional domestic and foreign operations management to become a world-class oil and gas company.

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