PHE ONWJ, PHE WMO maintain output performance despite price drop

By Febry Silaban

Amid the lingering drop in global oil price, PT Pertamina Hulu Energi Offshore North West Java (PHE ONWJ) and PT Pertamina Hulu Energi West Madura Offshore (PHE WMO), both indirect subsidiaries of state-owned oil and gas firm PT Pertamina, have managed to deliver solid production performance this year.

Year-end oil and gas production of PHE ONWJ stand at 40,069 bopd and 178.3 mmscfd, while PHE WMO at 13,466 bopd and 103.4 mmscfd

?We?re thankful for the quite encouraging results to support the industry performance, although ths year we had to review work program due the low global oil price,? said newly-appointed President/GM of PHE ONWJ, Irwansyah, Wednesday.

President/GM of PHE WMO Boyke Pardede added that despite the difficult situation, his company managed to help arrest natural production decline through innovations.

Communication and Relation Manager of PHE ONWJ & PHE WMO Donna Priadi said that during discussion of work program and budget with SKK Migas, it was decided that the production target for the company in 2016 is 37.300 bopd of oil and 163 mmscfd of gas. To help achieve the target, Capex and Opex for 2016 was set at around US$565 million.

?Meanwhile, for PHE WMO, the oil and gas productin target in 2016 is 10.025 bopd and 102.6 mmscfd. The capex and opex is set at $436 juta,? Donna said.

Editing by Reiner Simanjuntak