Hold The Rate Of Oil And Gas Production Reduction, PHM Hijak 54 Wells In The Third Quarter

Refinery illustration (Photo: antara)

PT Pertamina Hulu Mahakam (PHM) as the operator in the Mahakam Working Area (WK) with the support of SKK Migas and PT Pertamina Hulu Indonesia (PHI) as the parent company continues to drill development wells to curb production.

In an effort to curb the decline in production, in 2023 PHM will continue to drill development wells and the realization of the number of tax wells in the 3rd Quarter of 2023 is 54 development wells and 1 exploration well.

General Manager of PHM, Setyo Sapto Edi said, by the end of 2023, it is estimated that the total number of tax wells is 90 development wells and 2 exploration wells. "It is hoped that the additional annual average production in 2023 is estimated at 3180 BOPD for oil and 75 MMscfd for gas," Setyo said in a statement to the media, Thursday, November 9.

As of October 2023, PHM has succeeded in producing oil at 26.251 BOPD and 530 MMscfd for gas (wellhead) status YTD (year to date) October 2023.

Setyo explained that the production achievement was the result of maximum operational technical efforts, considering that most of the oil and gas fields in Mahakam's WK had matured and entered phase 4 or decreased natural decline production.

"Over the last few years, we have managed to withstand a high rate of natural production decline and maintain production levels in mature oil and gas fields," explained Setyo.

He added, this is thanks to the application of various innovations and technologies to increase the recovery rate of existing oil and gas wells.

"In addition, we also implement the best engineering practices in maintaining and increasing the reliability of oil and gas operation and production facilities that are decades old," added Setyo.

In addition, the provision of incentives from the Government of Indonesia to the Mahakam Block in early 2021 has provided the ability for Mahakam WK to continue the development work program more extensive, including running exploration programs aimed at opening the potential for oil and gas reserves in the Mahakam Block.

"This is certainly very important to ensure the sustainability of investment and support the achievement of Indonesia's oil and gas production targets," concluded Setyo.