Pursuing Oil Production Target, Pertamina Hulu Rokan Prepares 1.1 Billion US Dollar Capital Expenditures In 2024

PT Pertamina Hulu Rokan (PHR) supports the government's steps in pursuing a target oil production of up to 1 million BOPD in 2030. For this reason, Pertamina Hulu President Director Rokan Chalid Said Salim said the company had prepared capital expenditure (capex) for the smooth running of the company's operations.

It is known that the budget provided by the company is US $ 850 million.

"In 2023, our investment cost budget is around US$850 million and in 2024 it is in the range of US$1.1 billion," said Chalid in Energy Corner quoted Wednesday, August 16.

Chalid said the Capex upgrade was due to an increase in several jobs, especially to increase oil production capacity in the Rokan Block.

"So it can be seen that from the increase in work, investment increased from 850, 2024 to 1.1 billion US dollars," continued Chalid.

Chalid further explained that the achievement of the Rokan Block after two years of management from Chevron was to become the highest oil producer in Indonesia with the achievement of 172 thousand BOPD and managed to contribute 25 to 27 percent to national oil production.

"For Pertamina Group, we contribute around 33 percent or 1/3 of Pertamina's production," continued Chalid.

He said that since the transfer of management of the Rokan block from Chevron two years ago, PHR has managed to drill 800 wells with 80s of rigs.

"PHR has also succeeded in shortening drilling to just 5 days. A total of 30-40 new wells per month. The highest PHR production is number 1 in Indonesia," continued Chalid.

Chalid added that currently his party is working on the production of Non Conventional Oil (MNK) in Gulomo and Kelok wells in Rokan Hilir (Rohil) Regency.

The drilling of the MNK well is one of the largest drillings carried out by PHR, because it has to penetrate to a depth of 8,500 feet with a rig capacity of 1,500 horsepower (HP).