Oil and Gas Exploration, Pertamina Implement Drilling at 27 Wells

INDUSTRY.co.id - Jakarta - PT Pertamina (Persero) continues to conduct oil and gas exploration activities by carrying out 27 well explorations drilling with a resource finding target (2C) of 556 million barrels of oil equivalent (MMBOE).

"Pertamina remains aggressive in developing the upstream sector, including to increase oil and gas reserves and production," said Pertamina Upstream Director Syamsu Alam when breaking the fast with reporters in Jakarta, Monday (28/05/2018) night.

Up to the first Quarter, through three subsidiaries in the upstream sector, PEP, PHE, and PGE, Pertamina has drilled six wells. Finding 2 C at 40 MMBOE from Well Merakes-2 which is a cooperation of PHE and other KKKS.

"Pertamina's upstream performance earlier this year is quite encouraging, our oil and gas reserves continue to increase," he said.

The subsidiary, Pertamina Exploration Production (PEP), continued Syamsu, has completed a 3 km Seismic 2D survey and a 3002 km Seismic 3D Survey. Meanwhile, Pertamina Hulu Energi (PHE) found 2C resources of 40 MMBOE.

Pertamina's oil and gas exploration, according to Syamsu, in 2017 also noted the findings of new oil and gas reserves in the Parang-1 structure, which is part of the Nunukan Block, North Kalimantan, which lies on the border of Indonesia and Malaysia.

The structure has oil and gas production potential of 569 MMBOE, each of 374 MMBO of oil and gas of 1,136 BCF.

"We should be grateful because Parang findings become one of the top 10 findings of oil and gas 2017 in Asia-Pacific," he said.

Currently, the Nunukan block holders in the block consist of 64.5% PHE, the rest of BPRL Ventures Ind BV of 12.5%, and Videocon Indonesia Nunukan Inc at 23%.