In Semester I 2023, Pertamina Hulu Energi Records an 8 Percent Increase in Oil and Gas Production Compared to Last Year

JAKARTA - PT Pertamina Hulu Energi (PHE) as Subholding Upstream Pertamina continues to prove excellent performance until the first semester of 2023. Until June 2023, PHE recorded oil production of 570 thousand barrels per day (MBOPD) & gas production of 2757 million standard cubic feet per day (MMSCFD) so that oil and gas production amounted to 1,046 thousand barrels of oil per day (MBOEPD) or the equivalent of an 8 percent increase from last year Then.

This achievement was supported through the completion of a work plan for drilling 7 exploration wells, 359 development wells, 371 workovers, and 16,286 well services. In addition, PHE also recorded a 3D seismic survey of 478 km2.

"PHE will make maximum efforts to increase national contributions and increase the state's share, foreign exchange, and the regional economy," PHE Corporate Secretary, Arya Dwi Paramita, in a statement, Thursday, August 10.

Until now, PHE has succeeded in carrying out strategic achievements, including obtaining an exploration CA award with a majority of gas resources in Peri Mahakam & Bunga which is located in eastern Indonesia, East Natuna in the Indonesia-Malaysia-Vietnam border area, and the Masela national strategic project. The findings of gas exploration at Wilela, Wolai complex, and Mantapu 1-X also support a new round of national energy security and gas transition going forward.

One of the strategic projects that has also been worked on is the drilling of a Non-Conventional Oil and Gas (MNK) well in the Gulamo Field, Tanah Putih District, Rokan Hilir Regency, Riau at the end of July 2023.

Through Regional Internasional, which is chaired by PT Pertamina Internasional EP, Subholding Upstream Pertamina has also recently succeeded in obtaining a new contract extension at Menzel Lejmat Nord (MLN), Block 405 in Algeria. This oil and gas block has a permit to build an LPG factory with a capacity of 1 million metric tons per year whose production can be brought to Indonesia as the company's commitment to meeting national energy needs.

This achievement is based on PHE's main strategy in managing production baselines, increasing production growth through work plans and mergers & acquisitions and increasing reserve & resource growth by always prioritizing HSSE and Environment, Social, Governance (ESG) aspects.

Currently, PHE has been registered with the United Nations Global Compact (UNGC) as a participant/member since June 2022. PHE is committed to the Ten Universal Principles or Ten Principles of UNGC in its strategy and operations, as part of implementing ESG aspects. PHE will continue to develop management of domestic and international operations in a professional manner to achieve the goal of becoming a world-class oil and gas company that is Environmentally Friendly, Socially Responsible, and Good Governance.