Pertamina's Oil Production Up 20%, But Gas Production Down

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Annissa Mutia 10/11/2022 12:50 WIB

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Pertamina Hulu Energi (PHE) reported oil and gas production of 800,000 barrels of oil equivalent per day (boepd) in September 2022.

Pertamina Oil and Gas Production Realization (January-September 2021 vs. January-September 2022)

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Pertamina's Oil Production Up 20%, But Gas Production Down

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Pertamina Oil and Gas Production Realization (January-September 2021 vs. January-September 2022)

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Pertamina Hulu Energi (PHE) reported oil and gas (O&G) production of 800,000 barrels of oil equivalent per day (boepd) in September 2022. This represents a 9% increase compared to the same period in 2021, which reached 744,000 boepd. This O&G production exceeds Pertamina's target of 808,000 boepd for the end of 2022.

Specifically, oil production up to September 2022 reached 418,000 barrels of oil per day (bopd). This is a 20% increase compared to the same period in the previous year, which was 349,000 bopd.

On the other hand, PHE's gas production reached 2,216 million standard cubic feet per day (mmscfd), a 1% decrease from the previous year's 2,290 mmscfd.

PHE President Director Wiko Migantoro explained that the decrease in gas production was due to natural decline in the field. Wiko stated that this natural decline is a logical consequence of managing older fields by Pertamina.

To increase O&G production, PHE plans to significantly increase the number of development wells to 738, compared to 337 in 2021. In addition, Wiko said, PHE will also increase workover activities to 589, up from 540 in 2021.

Wiko added that PHE will also maneuver in exploration activities by exploring high-risk drilling opportunities. "Previously, we only played in low-risk areas, which people say don't yield big results. For next year, we will allocate 22% to high-risk areas," Wiko said, as reported by Katadata.co.id.

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Pertamina's Oil Production Up 20%, But Gas Production Down

Pertamina's Oil Production Up 20%, But Gas Production Down

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Pertamina's Oil Production Up 20%, But Gas Production Down

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