Pertamina holds upstream technology forum

State-owned oil and gas company PT Pertamina held the fourth upstream technology sharing forum (or FSHT) in Makassar, South Sulawesi, on July 24-28 as the country?s upstream oil and gas sector faces challenges including weak oil price environment and aging oil fields.

Pertamina said in a statement Tuesday that the biennial forum forms part of efforts to find new innovation in upstream technology that can be practically implemented at Pertamina oil and gas, and geothermal fields to help increase production and reserves, and eventually helps realize the company?s 2030 upstream targets of 2,045 MBOE oil and gas production, and 2,300 MW of geothermal capacity.

Pertamina President Director Elia Massa Manik said in the statement that the FSHT forum is expected to help efforts in increasing the country?s oil and gas production, and reserves. He said that P1 reserves as per 2016 stood at 2.7 BBOE. In early 2017, exploration activities by Pertamina succeeded in finding new reserves from Parang-1 (PHE Nunukan) of 126 MMBOE (2C), and from Haur Gheulis specifically Haur Gede-1 well with estimated reserves of 14 MMBO (2C).

Meanwhile, Pertamina Upstream Director, Syamsu Alam said that aside from exploration activities that resulted in new hydrocarbon finds, in 2017, Pertamina Hulu Energi (PHE) will drill seven wells including KKX-1 (ONWJ block), N-7 (WMO), Kumis-2 (Siak), Kotalama-3 (Siak), Karunia-1 (Abar), SE Sembakung-1 (Simenggaris), and NEB Ext-1 (Jabung) with combined findings of 59 MMBOE (2C). PT Pertamina EP (PEP) will drill six more exploration wells, and four wells are expected to be completed with estimate of 80 MMBOE (2C).

Syamsu added that a number of exploration activities have been followed up with plan of development (POD) such as in Badik and West Badik (PHE Nunukan), and PHE Randugunting has also moved from exploration to development phase.

Editing by Reiner Simanjuntak