Pertamina Urged to Unlock Buton Oil’s Vast Potential

The government continues to strive to encourage national oil and gas companies, especially PT Pertamina (Persero), to be even more aggressive in optimizing the potential of the country's oil and gas resources, including in eastern Indonesia.

Stepanus I Nyoman A. Wahyudi

22 Apr 2024 - 18.13
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Pertamina Urged to Unlock Buton Oil’s Vast Potential

Offshore drilling facilities in one of PT Pertamina (Persero)'s working areas. Pertamina, through PT Pertamina Hulu Energi (PHE), is moving swiftly to optimize assets while also maintaining the current pace of oil and gas production by more aggressively hunting for giant oil and gas reserves, or 'big fish,' buried beneath the earth's surface. Special - Doc. Pertamina

Bisnis, JAKARTA — The government remains committed to maximizing the potential of oil and gas resources in the country, particularly in light of the ongoing challenges in boosting national oil and gas production, which has been declining.

Historically, the Rokan working area (WK), operated by PT Pertamina Hulu Rokan (PHR), has been a cornerstone of national oil production, alongside the Cepu WK managed by ExxonMobil Cepu Limited.

In 2023, PHR achieved a production rate of 161,623 barrels per day (bpd) of oil, surpassing the previous year's output of 159,262 bpd. Similarly, the Banyu Urip Field, operated by ExxonMobil Cepu Ltd. (EMCL) in the Cepu Block, produced 155,444 bpd of oil in the same year, solidifying its position as one of the country's top contributors to oil production.

These two oil and gas blocks collectively account for more than 40% of national oil production on average. However, their oil production faces the challenge of natural decline, primarily due to the aging wells.

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.