PHE delivers strong Q1 output performance

Petromindo|Khalsa

PT Pertamina Hulu Energi (PHE), an upstream subsidiary of state-owned oil and gas firm PT Pertamina, said that oil production in the first quarter of this year reached 63,000 bpd, or 99 percent of the 64,000 bpd target set in its 2017 work program and budget.

The company said in a statement Tuesday that gas production reached 723 mmscfd, or 94 percent of the targeted 769 mmscfd. ?PHE delivered positive performance in the first quarter,? the company said in the statement.

PHE President Director R. Gunung Sardjono Hadi said in the statement that the higher production was a result of higher output from ONWJ block in West Java following renewal of its contract in January when the government transferred the entire block to the company, and also because of higher production from Jambi Merang and NSO blocks.

Meanwhile, the higher Q1 gas production was contributed by increase in production at Jambi Merang and WMO blocks.

To help maintain or even increase further production, PHE has taken various measures including the success in the start-up of EPCI-1 PHE WMO Integration Project, which is expected to reach peak production level of 3,000 bopd and 16 mmscfd of gas.

In terms of exploration activities, drilling program at the Parang-1 exploration well, offshore Nunukan, has completed the fifth well-test. It is expected to be able to add 2C resources by 126.5 mmboe. Drilling program at RGT-2 well has proven hydrocarbon presence from the Ngrayong Standstone and Tuban Limestone objectives.

In the first quarter, PHE has completed 2D seismic surveys at the offshore PHE Abar and PHE Anggursi, respectively totaling 1,990 km and 1,960 km. The activities are expected to lead PHE to find new oil and gas resources.

Editing by Reiner Simanjuntak