JAKARTA. PT Pertamina (Persero) through its subsidiary, PT Pertamina Hulu Mahakam (PHM), is currently working to maintain the decline rate in Mahakam Block at the level of 25%.
Dharmawan H Samsu, Director of Upstream at Pertamina, said the current decline in the production rate in the Mahakam Block has improved from the previous year. In 2017, Pertamina noted that the decline in the production rate in the Mahakam Block was at the level of 57%.
To maintain the rate of decline in production, Samsu explained it would continue to drill wells aggressively. "We continue to drill 118 wells until the end of 2019, so it is expected that the in-year decline rate can be maintained flat," Samsu explained through an official statement received by idnfinancials.com.
Samsu admitted that the 118 wells-target was quite hard to achieve, since Mahakam Block was old. "The contribution of Mahakam now comes from smaller reservoirs with closer spacing between wells," Samsu explained. (KR/AR)