JAKARTA - PT Pertamina Hulu Energi (PHE) discovered three new oil and gas reserves through drilling the Exploration R-2 well off the coast of West Aceh, then Bajakah-001 in the onshore part of North West Java, and Markisa-001. onshore Salawati Papua.
"Until the middle of August, which coincides with the 77th Independence Day of the Republic of Indonesia, PHE exploration has completed 8 wells and 7 on-going wells which will be followed by flow testing. We hope that the completion target of 29 wells by the end of the year can be achieved and produce maximum results," said Director of Exploration PHE as Pertamina's Upstream Subholding, Medy Kurniawan in an official statement in Jakarta, Thursday, August 18.
Medy said that PHE, through exploration activities, is consistently committed to and contributes to achieving national energy security.
In 2021, upstream subholding succeeded in drilling 12 exploration wells.
In 2022, upstream subholding seeks to increase performance massively and aggressively through a work plan to drill 29 exploration wells, or 242 percent compared to the realization in 2021.
Furthermore, Medy explained, the discovery of new reserves from three exploration wells complements the successful discovery of previous reserves in Semester-1 in 2022, namely Sungai Gelam Timur-1 well in Jambi, Wilela-001 in South Sumatra, GQX-1 in West Java. North and Manpatu-1X in Mahakam. The drilling success ratio until August 2022 (year to date/ytd) reaches 70 percent.
"Of course, this success has contributed from all relevant parties, both internal and external," he said.
In the exploration strategy, continued Medy, his party has three main initiatives, including the existing Work Area (WK) assets where exploration contributions are needed to maintain and increase existing oil and gas production.
Next, the New Ventures strategy where it looks for new exploration potential.
Lastly, the partnership strategy for risk and cost sharing as well as technology and knowledge transfer through the acceleration of the domestic and foreign cooperation and joint bidding process.
In addition to optimal performance, PHE has also been registered in the United Nations Global Compact (UNGC) as a participant or member since 16 June 2022.
PHE is committed to the Ten Universal Principles of UNGC in its strategy and operations, as part of the implementation of Environmental, Social, Governance (ESG) aspects.
"Pertamina's Upstream Subholding will continue to develop professional management of domestic and foreign operations to realize the achievement of becoming a world-class oil and gas company," concluded Medy.
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