Pertamina Upstream Regional Java Notes Oil Production Realization Of 54.2 MBOPD Throughout 2024

Illustration (Photo: Doc. ANTARA)

JAKARTA - Pertamina's Java Subholding Upstream Region recorded positive oil and gas operational performance with oil production reaching 54.2 MBOPD throughout 2024.

On the other hand, gas production reaches 356.11 million standard cubic feet per day (MMSCFD).

Meanwhile, the lifting rate was recorded at 54.5 MBOPD for oil and 231.41 MMSCFD for gas.

Acting Regional Director of Java Subholding Upstream Muhamad Arifin said this achievement was obtained from massive drilling of 31 development wells and efforts to optimize existing reservoirs through well service and well intervention.

"In the field of exploration, 2C's findings exceeded the target of 132.34 Million Barrels of Oil Equivalent (MMBOE), supported by the success of GQY-1 and EPC-001 wells," he said, Wednesday, April 23.

Meanwhile, the 3D seismic completion increased by 1,423 km2 in the Kepuh and Arwana areas with Reserve P1 increasing by 47.86 MMBOE with a percentage of 144 percent of the target.

Contractual initiatives continue to grow, including the conversion of the result-sharing contract scheme or Production Sharing Contract/PSC PHE ONWJ entity from gross split to cost recovery.

Commitment to optimizing the use of domestic goods and services, the realization of the Java Regional Domestic Component Level (TKDN) reached 122 percent exceeding the target.

Regarding the safety aspect, throughout 2024 the Java Region accumulated 14,865,081 working hours safely.

Pertamina also developed a Carbon Capture and Storage (CCS) study with international partners, marked by the signing of a confidence agreement for CCS studies in South East Sumatra (SES) and Offshore North West Java (ONWJ) working areas. This confirms the company's commitment to the sustainability of energy production.

One of the implementation strategies to achieve the targets is digitalization data.

For example, the latest innovation from PHE OSES, the Optimized Oilfield Integration Platform (OOIP) technology, presents automation in oil well maintenance that improves the accuracy of the repair plan by 100 percent.

This technology has won the International Convention and Quality Control Circle (ICQCC) award in Srilanka in November 2024.

Continuing the achievement in 2024, said Arifin, 2025 will be an acceleration momentum in realizing the vision of Energy Self-Sufficiency which is part of the Asta Cita of national development. The Javanese region will continue to advance with quite challenging strategies and targets.

Several strategies have been designed and prepared. To achieve energy independence, drilling is carried out by prioritizing significant resources, new play and frontier areas, as well as accelerating resources to resources and production through optimizing findings.

"This acceleration marks Pertamina's real step in strengthening national energy resilience through aggressive and sustainable exploration," said Arifin.