Pertamina tie up with Aceh firms in oil exploration

Pertamina’s operational unit in Rantau Kuala Simpang, Aceh Province, will cooperate with two local companies to develop its oil and gas field in Rantau Kuala Simpang in the province, Bisnis Indonesia reported on Friday.

“The two companies – PT Eksindo Pratama and PT Haseba -- which have a lot of experience in oil hunting, will explore oil and gas in Telaga Said and Bulu Telang areas,” the head of Pertamina’s local operational unit, Ibrahim Yusuf said.

He said that Pertamina invested billions of rupiah this year to boost crude oil production in the Rantau Kuala Simpang area which had declined by about 50 percent during the past several years.

At present, the area produces between 3,000 and 3,500 barrels of crude oil per day and 50 MMBTU of gas a day as compared to between 7,000 and 8,000 barrels of crude oil per day several years ago.

There are at least 300 oil wells in the oil block but only between 99 and 110 wells are productive.

He said that the two investors would develop new oil wells in the oil block while Pertamina would enhance the production in the existing oil wells. (*)