Pertamina targets oil and gas production to increase 17 percent this year

07 July 2022 10:21

JAKARTA - In the midst of the challenge of rising world crude oil prices to USD 139 per barrel, the highest in history, Pertamina continues to try to increase oil and gas production to maintain national energy security. In 2022, Pertamina targets oil and gas production to reach 1,047 MBOEPD, an increase of 17 percent compared to last year.

"Until the end of May 2022, Pertamina's oil and gas production has reached 966 MBOEPD or 8 percent above production in 2021," said Nicke Widyawati in a Hearing Meeting (RDP) with Commission VI DPR RI, Wednesday, July 6, 2022.

Pertamina's increase in oil and gas production was driven by aggressive well drilling, both new wells, development wells as well as workover & well service. In 2022, Pertamina will drill more aggressively with 813 development wells, an increase of 232 percent compared to last year, 29 exploration wells (up 242 percent) and 26,467 workover & well service (up 161 percent).

Other efforts to optimize upstream performance in 2022 are carried out by Pertamina with reactivation of suspended wells, exploration potential for discovery Manpatu-01 (Gas Discovery) in Mahakam and Sungai Gelam Timur-01 (oil discovery) in Jambi as well as various cost optimization programs. (LM)

© 2024 - IDN Financials - All Rights Reserved.