Pertamina EP speeds up exploration activities

PT Pertamina EP, the upstream unit of state oil and gas firm PT Pertamina, will speed up exploration activities to find more reserves at its concession areas.

Pertamina EP?s Director of Exploration and Development Syamsul Alam said in Jakarta on Tuesday that the company was currently drilling one more well, that is PDM-05, at the Pondok Makmur field in Bekasi as part of the program.

?The drilling began on Jan. 1,? he said.

He said that Pertamina EP drilled 18 wells in 2009, comprising of nine wildcat wells, seven dealination wells and two re-entry wells. Five of the wells, that is Ginaya (in Sumatra) and Pondok Mekar, Karang Degan, Karang Luhur, and Akasia Bagus (in Java), were intitally scheduled to be drilled this year, but the firm sped up to the drilling schedule to 2009.

Of the 18 wells, 12 indicate signficant oil and gas desposit, he said.

Pertamina EP has increased its production to 127,000 bpd at the end of 2009, exceeding the initial target of 125,500 bpd. (godang)