Pertamina EP boosts exploration activities at Sumatra old fields

PT Pertamina EP, an upstream subsidiary of state owned oil and gas firm PT Pertamina (Persero), will boost exploration activities at the company?s old fields as part of the company?s program to increase oil and gas production.

Pertamina EP's president director Salis S. Aprilian said in a statement on Sunday that this year, the company would carry out drilling activities at 48 new wells and 19 work-over wells in Region Sumatra block.

?The plan will be part of Pertamina?s program to conduct drilling activities of 155 wells and existing 72 work-over wells this year,? Salis said during an inspection at the start of the drilling activities at the PMB-21 well in the Region Sumatra block in Prabumulih, South Sumatra. He said that the PMB-21 well was part of new wells to be drilled in the block.

Salis hoped that the local government would also support the programs especially in the issuance of permits to a seismic survey and land acquisition.

Pertamina expects to books net profits of up to Rp 19.7 trillion (1US$ = Rp 8,784) from upstream operations this year. Pertamina EP is expected to contribute two-third of the profit target. (godang/giok)