Pertamina Hulu Indonesia Targets Production of 63.4 MBOPD in 2023

JAKARTA - PT Pertamina Hulu Indonesia (PHI) targets oil production of 63.4 barrels of oil per day (MBOPD) and gas of 668.5 million standard cubic feet per day (MMSCFD).

Kalimantan Regional Communication Relations & CID Manager Dony Indrawan said, PHI has set an aggressive 2023 target as part of the company's commitment to supporting the achievement of national production targets.

"We have also set a higher drilling target than 2022, namely 198 development/exploitation wells, 5 exploration wells, and 337 workovers," he explained in an official statement, Wednesday 18 January.

Furthermore, he explained, for production in 2022, PHI recorded oil production of 57.8 MBOPD and gas of 668.3 MMSCFD.

This shows a significant contribution to the national oil and gas production of 626 MBOPD for oil and 5,572 MMSCFD for gas.

"In 2022, Pertamina Hulu Indonesia has succeeded in overcoming challenges and achieving positive performance and various achievements," he continued.

He added, the company continues to strive with a variety of innovations and technologies to maintain and increase production, as well as curb the natural decline in production.

Facing 2023, the company is preparing various strategies, including aggressive exploration activities to seek new resources, baseline optimization and development to increase production, increase synergies and joint procurement with Pertamina group entities, as well as evaluation and optimization of portfolio assets.

"PHI is taking strategic steps related to portfolio optimization both in exploration, development, production optimization and operational synergy as well as efforts to maintain the reliability of production facilities to achieve the company's targets," he continued.

The company also encourages the implementation of appropriate digitalization to increase collaboration, business and innovation to realize efficient oil and gas operations.

PHI's strategic move to run oil and gas operations that are environmentally friendly and sustainable, accompanied by the implementation of innovative community development programs, has earned recognition from the Ministry of Environment and Forestry (KLHK) by winning Proper gold awards for four PHI oil and gas fields and 5 green predicates for five fields. PHI oil and gas in Kalimantan.

"We believe that the sustainability of the company's oil and gas operations and business plays an important role in supporting the sustainability of the national energy supply and Indonesia's economic development," said Dony.

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