Pertamina Hulu Energy Production Crude Oil 548,000 Barrels Per Day

JAKARTA - PT Pertamina Hulu Energi (PHE) as Pertamina's Upstream Subholding continues to prove a brilliant performance to date. PHE recorded oil production of 548,000 barrels per day (MBOPD) & gas production of 2.86 billion cubic feet per day (BSCFD) so that oil and gas production of 1.04 million barrels is equivalent to oil per day (MBOEPD) to the 1 trimester of 2024 which is a consolidation of all PHE subsidiaries.

Until March 2024, PHE also recorded the performance of drilling completion of 3 exploration wells, 163 development wells, 219 workovers and 8,323 well services. In addition, PHE also recorded 2D Seismic surveys along 12 km and 3D along 2,602 km2. In the field of exploration, PHE achieved a total finding of 2C resources of 140 Million Barels of Equivalence/Oil Equivalence Oil (MMBOE).

"PHE will continue to carry out superior performance by prioritizing safety aspects in every line of work that is in accordance with good corporate governance," said PHE President Director, Chalid Said Salim, Saturday, April 4.

Chalid said, by prioritizing the safety aspect, PHE also recorded 80,472,121 safe hours until the first trimester of 2024.

PHE will continue to be committed to continuing to contribute to the fulfillment of national energy. In order to meet the targets and with the mitigation of existing challenges, PHE implements the transformation of the company's strategy which will be carried out throughout 2024.

According to Chalid, special efforts need to be made to increase oil production with various kinds of recovery plans that have been prepared and new initiatives.

"We are grateful for all these achievements, we also thank all stakeholders who always support the company's operational activities so that they can run smoothly," added Chalid.

Chalid added that PHE will continue to invest in upstream oil and gas operations and business management in accordance with Environmental, Social, and Governance (ESG) principles.

PHE has been registered with the United Nations Global Compact (UNGC) as a member since June 2022. PHE is committed to Ten Universal Principles or Ten Principles from UNGC in its strategy and operations, as part of implementing the ESG aspect. Supporting the Governance aspect, PHE is also always committed to Zero Tolerance on Bribery by ensuring prevention of fraud is carried out and ensuring that companies are clean from bribery. One of them is by implementing the Anti-Bribery Management System (SMAP) which has been standardized ISO 37001:2016.