JAKARTA. PT Pertamina EP, a subsidiary of PT Pertamina (Persero) which is engaged in the upstream oil and gas business, has spent US$ 494 million to drill 26 wells in the last three years.

Firlie H Ganinduto,  Chairman of the Oil & Gas Committee of the Indonesian Chamber of Commerce and Industry (KADIN), said there were still dozens of potential points that Pertamina EP had not yet worked on. "There are still about 70 basins that have not been managed," explained Ganinduto as quoted by Bisnis Indonesia on Friday (20/3) today.

Nevertheless, the drilling and exploration activities done by Pertamina EP over the past 3 years have shown positive results.

During the period of 2017-2019, Pertamina EP has conducted 2D and 3D seismic surveys. Both surveys helped the company find 2C resources equivalent to 64 MMBOE in 2017. The discovery of 2C resources continued to rise to 71 MMBOE in 2018 and 103 MMBOE in 2019. (KR/AR)