Optimistic To Explore Indonesia's Oil And Gas Potential, PHE Sharpens Exploration Strategy

Photo: Doc. Pertamina Hulu Energi

JAKARTA - PT Pertamina Hulu Energi (PHE), as Pertamina's Upstream Subholding, recorded significant discoveries of exploration activities in blocks managed over the past two years. This success was obtained through exploration activities in fully developed areas in existing blocks.

This strategy is aimed at optimizing assets and maintaining the current pace of oil and gas production. The findings of oil and gas resources in Indonesia in recent years show optimism that Indonesia still has great potential.

Some of the findings that were successfully validated by PHE include the estimated hydrocarbon volume/in place 2C (P50) with a total of 926.64 million barrels of equivalence/mmboe oil from well drilling off the coast of North West Java, South Sumatra, off the coast of Balikpapan, and off the coast of Aceh. Currently, PHE has also obtained new exploration blocks, namely East Natuna (PHE 100 percent), Bunga ( partnering with Posco 50 percent) and Peri Mahakam ( partnering with Eni 50 percent) as well as in the process of obtaining other new blocks.

"Currently, the best momentum for PHE to prepare the Deep Sea Drilling Project to explore the potential for large new resource findings, we are committed to maintaining energy sustainability with a special strategy in order to support national energy security," said PHE Exploration Director, Muharram Jaya Panguriseng, in his statement, Tuesday, October 17.

Based on the General Plan for National Energy (RUEN), domestic demand for energy oil and gas will continue to increase every year. Exploration is the key to the sustainability of energy supply to find resources and ensure the availability of primary energy is maintained in order to meet domestic energy needs.

"In an effort to increase the ratio of resource findings per structure, PHE will balance its portfolio between exploration drilling in locations near the production field (near field exploration) and exploration drilling in new areas that have not been worked on before (emerging & frontier area)," continued Muharram.

Currently, PHE is intensively conducting subsurface evaluations and preparing exploration drilling off Matindok beach, off the coast of East Natuna and other new exploration blocks.

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 participant/member since June 2022. PHE is committed to Ten Universal Principles or Ten Principles of the UK in its strategy and operations, as part of implementing the ESG aspect.

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