Commemorating The 16th Anniversary, PHE Continues To Explore Potential And Improve Company Sustainability

Photo: Doc. Pertamina Hulu Energi

JAKARTA - Entering its 16th age on June 29, 2023, PT Pertamina Hulu Energi (PHE) as Pertamina's Upstream Subholding continues to be committed to continuing to contribute to national energy production.

As of May 2023, PHE recorded oil production of 1053 MBOEPD (100 percent of the target YTD May 2023) with details of oil production of 572 MBOPD and gas production of 2788 MMSCFD. This achievement is supported by the completion of drilling work plans for 6 exploration wells, 299 development wells, 316 workovers and 13257 well services using 69 drilling rigs and 132 WI rigs.

"Sixteen years of PHE has served the country by continuing to provide energy to all corners of Indonesia. Getting older also means that we hope to contribute optimally to meet the national production target of 1 Million BOPD and 12 BSCFD in 2030 to support national energy security," said Arya Dwi Paramita, Corporate Secretary of PT Pertamina Hulu Energi, in her statement, quoted Wednesday, July 12.

PHE will continue to seek to explore potential from various aspects to achieve the predetermined target.

Achievements to support the company's long-term targets include through exploration and acquisition work programs. The current exploration achievements are also very encouraging where PHE managed to find gas disclosure from the Helios D-1 exploration wells in East Kalimantan and NSO XLLL in North Sumatra. This is proof of the transition gas program from the findings of gas resources from various exploration wells since last year," added Arya.

Another proud success is the signing of the management of the Peri Mahakam working area off the coast of East Kalimantan and a new chapter in the management of the East Natuna working area in the border area of the Natuna archipelago country.

The last is the signing of a new contract extension at Menzel Lejmat Nord (MLN), Block 405 in Algeria. This oil and gas block has the concept of Bring Barrel Home Saharan Crude Blend to Indonesia which is one of the quick wins in supporting national energy security.

The attractive potential of this block is the permit to build an LPG factory with a capacity of 1 million metric tons per year whose production can be brought to Indonesia.

This achievement is inseparable from PHE's efforts to manage the main strategy in managing production baselines, increasing production growth through work plans and mergers & acquisitions and increasing detective & resource growth by always prioritizing the aspects of Environment, Social, Governance. With the support of PT Pertamina (Persero) as Holding and Government Support, PHE continues to support national energy fulfillment and build national oil and gas upstream industrial capacity," explained Arya.

In 2022, PHE has also completed drilling for the development of a total of 689 wells and 638 workover wells as well as an additional realization of 1P reserves for oil and gas of 486 MMBOE or 64 percent of the 2022 target. In its exploration performance, PHE as Upstream Subholding, recorded the realization of 17 drilling wells with complete status, the addition of 2C resources with a realization of 345 MMBOE or exceeding 156 percent of the target, and the achievement of 3 big fish findings in Manpatu-1X, Wilela-001 and GQX GQ-GQS.

And in commemorating the 16th Anniversary, PHE as Upstream Subholding together with all Regionals and Subsidiaries held compensation activities in 26 foundations, 480 orphanages and 40 elderly compensation with a total of Rp445,200,000 collected assistance.

PHE will continue to be committed to maintaining business practices according to the route of sustainable investment trends (environmental, social and governance/ESG) as well as the safety aspect. PHE has been registered with the United Nations Global Compact (UNGC) as a participant/member since June 2022. PHE is committed to Ten Universal Principles or Ten Principles of the UNC in its strategy and operations, as part of implementing the ESG aspect.

PHE will continue to develop operational management at home and abroad professionally to realize the achievements of becoming a world-class oil and gas company that Environmentally, Socially Responsible and Good Governance.