Member Of DEN: Extraordinary Performance, PHE Is Expected To Be Able To Compete With World-class Companies

Illustration. (Photo: Doc. Antara)

JAKARTA - Member of the National Energy Council (DEN) Satya Widya Yudha appreciated Pertamina Hulu Energi (PHE) as Pertamina's Upstream Subholding. Not only because of the complexity of operational performance, but also various expansions abroad, such as Algeria. These various achievements, according to Satya, can be a way for PHE to be equal to world-class companies.

"We must appreciate the various PHE performances, which are able to increase oil and gas production this year. Including when we succeed in obtaining contracts abroad, we hope to place PHE as a company capable of competing with the International Oil Company (IOC)," Satya told the media, Thursday, August 24.

According to Satya, PHE must be able to take opportunities abroad. This is also what Petrochina has done so that it can be known to the world today.

"Petrochina is also a state-owned company but can become an IOC," Satya said.

Meanwhile, regarding the increase in production achieved by PHE, according to Satya, it is very important in maintaining national energy security. From the point of view of the National Energy Council, explained Satya, PHE's success can be seen from the perspective of short-term and long-term strategies.

For short-term strategies, he continued, automatically increasing oil and gas production at PHE will ensure the availability of supply.

"The gas is to maintain domestic consumption. Meanwhile, the availability of oil supply is to reduce imports," said Satya.

"Meanwhile, in the long term, PHE's performance must be put into an energy security strategy that slowly leads to decarbonization," he continued.

Not only Satya. Migas practitioner Harry Poernomo also gave his appreciation to PHE. According to Harry, increasing production for upstream oil and gas companies such as PHE, is indeed an indicator of success.

"That's good. Workload increases, production also increases. That means the company's performance is positive," said Harry.

According to him, the increase in PHE production will also reduce domestic fuel imports (BBM). This in turn will also reduce foreign exchange spending on imports.

As is known, PHE does continue to prove extraordinary performance. Until June 2023, for example, PHE recorded oil production of 570 thousand barrels per day (MBOPD) and gas production of 2757 million cubic feet per day (MMSCFD) so that oil and gas production of 1,046,000 barrels of oil equivalent per day (MBOEPD) or an 8 percent increase from last year.

This achievement is supported by the completion of the drilling work plan for 7 exploration wells, 359 development wells, 371 workovers and 16,286 well services. In addition, PHE also recorded a 3D Seismic survey of 478 km2.

As previously stated by PHE Corporate Secretary Arya Dwi Paramita, until now, PHE has also succeeded in making strategic achievements. Among other things, obtaining an exploration WK award with the majority of gas resources in Peri Mahakam & Bunga which is in eastern Indonesia, East Natuna in the border area of the Indonesian-Malaysia-Vietnam country and the national strategic project of Masela. The findings of gas exploration in Wilela, Wolai complex and Pertau 1-X also support a new round of energy security and national gas transitions going forward.