Pertamina reports 450 percent increase in 2002 oil, gas discoveries

State oil and gas company Pertamina on Thursday reported that during 2002, it had managed to discover 907.3 million barrels of oil equivalent (MMBOE), 450 percent higher than 2002 discovery of 207 MMBOE.

Pertamina's upstream director Iin Arifin Takhyan said 546 MMBOE (54.2 MMBO + 2,854 BCFG) of the discovery was the result of exploration drillings, while 360.4 MMBOE (257.3 MMBO + 597.2 BCFG) was discovered from upside potential of existing structure drillings.

Iin also said that in 2002, production of crude oil, natural gas and geothermal increased 6.4 percent to 267,400 MBOEPD from 251,300 MBOEPD in 2001.

Among significant 2002 discoveries are: Tunggul Maung-2 (34.2 MMBO + 126 BSCFG) and Tambun Kalapa-1 (13 MMBO + 77BSCFG) in West Java, Sungai Gelam Deep in Jambi (497.6 BSCFG), Randublatung in Central Java (411 BSCFG), Donggi-2 in Central Sulawesi (1.3 TCF + 7 MMBO) and Anoa also in Central Sulawesi (440 BSCFG). Discovery in existing structure drilling in Gunung Kemala in South Sumatra, have resulted in 229.5 MMBO and 597.2 BSCF of gas.

Iin added that in 2002, Pertamina upstream booked pre-tax profit of Rp.8.72 trillion (US$ = 8,900), slightly lower than 2001 pre-tax profit of Rp.8.83 trillion. (alex/godang)

Pertamina Upstream Directorate: Selected Statistic
?	2001	2002	2003*
DISCOVERY OF RESERVES
?- Exploration drilling (MMBOE)	202.56	546.9	744
?- New Discovery from existing structure	-	360.4	-
PRODUCTION
?- Oil (BOPD)	105,894	109,693	113,154
?- Gas (MMSCFD)	806	873	904
?- Steam (Tons per Day)	25,541	28,533	51,780
TOTAL (BOEPD)	251,301	267,401	281,940
?
Oil, gas, steam own operation prod.	168,350	176,420	194,299
Oil, gas, j.v. operation prod.	82,951	90,981	87,641
?
PRE-TAX PROFIT (trillion Rupiah)	8.83	8.72	9.1
*) Forecast