Pertamina Hulu Indonesia Records Realization Of Capai Oil Production Of 43.2 Thousand BOPDs Throughout 2022

Oil production illustration (photo: Doc. Unsplash)

JAKARTA PT Pertamina Hulu Indonesia (PHI) recorded a positive performance throughout 2022 with the realization of oil production reaching 43.2 thousand barrels of oil per day (MBOPD) and gas production of 601.7 million standard cubic feet of gas per day (MMSCFD).

The achievement of PHI is the consolidation performance of three PHI subsidiaries, namely Pertamina Hulu Mahakam (PHM), Pertamina Hulu Sanga (PHSS) and Pertamina Hulu East Kalimantan (PHKT).

In his presentation, Chalid Said Salim conveyed the strategies and work programs that have been realized during 2022. In addition, Chalid also explained operational and business challenges that demand adaptation, innovation, and make quick and precise decisions.

"We always encourage and implement innovations and technological applications that can improve the safety, reliability and advantages of the Company's oil and gas operations," Chalid told the media quoted on Thursday, May 11.

Chalid explained that the Company continues to invest in exploration and development of oil and gas fields to increase reserves that are important for the sustainability of the Company's operations and national energy security.

In 2022, PHI drilled 119 development or exploitation wells, 2 exploration wells, 309 workover activities, and 6628 well service activities.

In 2022, PHI achieved zero work accidents (NOA/Number of Accident) with a total of more than 96.6 million working hours survived.

"We always carry out oil and gas operations that are safe, reliable, environmentally friendly, and obedient to all applicable regulations in line with the implementation of the Company's ESG (Environment, Social, and Governance) principles and performance," said Chalid.

In terms of community empowerment, especially in the Company's operating area, PHI has implemented 63 Social and Environmental Responsibility (CSR) programs throughout 2022. The CSR PHI program consists of 11 educational programs, 11 economic programs, 10 health programs, 6 infrastructure programs, 17 environmental programs, and 25 study & disaster programs which are all intended to support the achievement of the Sustainable Development Goals (SDGs).

"Overall the realization of KPI PHI 2022 has exceeded the target with a final score of 105.52 percent. As for the Company Financial Performance Level in 2022, PHI again gets the Healthy AA category," explained Chalid.

PHI implements various initiatives so as to improve the performance of the Company's operations and business and save millions of dollars. One of the things that is done is the use of ex-nominated materials or the abbreviation of Maxter.

Maxter is part of the cost optimization program on Pertamina's Upstream Subholding or better known as OPTIMUS (UPstream Optimization). This program aims to reduce the supply of termination remaining materials that can be reused in various projects and operational activities.

"Until December 2022, we have succeeded in realizing the use of ex-nominated materials through Maxter worth USD 32.35 million, equivalent to 137.96 percent of the RKAP target," said Chalid.

In addition, Chalid added that the Company recorded a positive performance in the company's synergy.

"The synergy of contracts with Pertamina's subsidiaries and other affiliates resulted in a value creation of US$266 million and LPG Optimization Project (LPO) with the PT Badak refinery receiving a value creation of US$35.7 million," added Chalid.

PT Pertamina Hulu Indonesia (PHI) is part of Pertamina's Upstream Subholding which manages upstream oil and gas operations and businesses in accordance with ESG (Environment, Social, Governance) principles in Regional 3 Kalimantan.

In 2022, through its subsidiaries and affiliates, PHI produced an average of 57.8 thousand barrels of oil per day (MBOPD) and gas production of 668.3 million standard cubic feet of gas per day (MMSCFD).