Sluggish world oil prices do not prevent Pertamina from actively investing in the upstream oil and gas sector. Pertamina Hulu Energi (PHE) inaugurated the offshore oil production platform PHE-24 in Madura waters. PHE-24 and PHE-12 become part of the first part integrated production facility (EPC-1).
The production facility will be equipped with Central Processing Platform 2 (CPP2) which is on its way from the assembly facility in Cilegon, Banten, West Java.
Dwi Soetjipto
The three installations are expected to be installed at the end of November 2016 and begin production in February 2017. Pertamina's Managing Director Dwi Soetjipto stated the integrated field development is Pertamina's effort to increase its contribution to 40 percent in national oil production in 2019.
Now, Pertamina has only contributed around 23 percent and the total national oil production is 830 thousand barrels per day. In addition to improving efficiency, cutting losses and increasing domestic content, Pertamina continues to look for new reserves in other work areas. Dwi Soetjipto admitted, his side was still researching the North Kalimantan region which has geological conditions similar to the Mahakam Block.
Head of SKK Migas Amien Sunaryadi gave a thumbs-up to Pertamina's success in being able to reduce costs but continued to pursue oil lifting targets. The PHE WMO project that was inaugurated yesterday reduced costs by up to 20 percent from what was determined in the plan of development (POD).
left : Sri Budiyani
PHE General Manager WMO Sri Budiyani added, through the EPC-1 project, the company targets to increase production by 5-7 thousand barrels per day for the next five years. Thus, the rate of decline in natural products in the WMO Block which in the last three years reached 50-60 percent per year can be suppressed. Through a Well maintenance program and production optimization, the rate of natural production decline can be held to only around 10 percent
Jawa Pos, Page-5, Thursday, Oct 13, 2016
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