PT Pertamina (Persero) seeks to accelerate the increase in national oil production to 1 million Barrels Per Day (BPD) in 2026, from the initial plan of 2030.
This is to anticipate the increase in demand for crude oil after the completion of six refinery projects in 2026.
Nicke Widyawati
Pertamina's Director Nicke Widyawati said the Special Task Force for Upstream Oil and Gas Business Activities (SKK oil and gas) is targeting an increase in oil production to 1 million BPD. in 2030.
To achieve this target, his party will increase the number of drilling wells, conduct seismic activities to find new reserves, and applying enhanced oil recovery (EOR) technology. However, his party is now preparing an optimistic scenario of this plan, so that oil production of 1 million BPD can be realized in 2026.
"We are making an optimistic case with the EOR [1 million BPD production] in 2026. We hope," he said in a meeting with Commission VI Indonesian Parliament.
Nicke explained, the accelerated increase in oil production needs to be done because the company's oil needs will surge in 2026. This follows the targeted completion of six of the company's refinery projects that year which will boost refinery capacity from the current 1 million BPD to 2 million BPD.
"Why is it accelerated in 2026? Because the refineries we built are starting to produce, and that needs an additional supply of crude oil, " Nicke said.
Regarding EOR, according to her, Pertamina's Upstream Directorate is currently detailing technologies that can be used. It targets the EOR can be done quickly so that the results can be felt immediately. One of these EOR technologies will be used to increase oil production in the Rokan Block after the operatorship is switched to Pertamina.
"Mr. Dharmawan [Pertamina Upstream Director] and SKK oil and gas are refining the technology that we can use to accelerate additional production in upstream oil and gas," said Nicke.
Even now, Pertamina through Pertamina EP has also implemented EOR in Tanjung Field. The company has also signed a core understanding between Pertamina and Repsol for the management of the full scale, including the implementation of the Surfactant-polymer EOR.
In the Jirak and Rantau Fields, Pertamina is conducting a Surfactant chemical application study for EOR implementation in both fields. Furthermore, Pertamina is currently conducting studies in several fields, namely Jatibarang, Sukowati, and Ramba for EOR with CO2 flooding.
Pertamina also expanded the EOR activities to the oil and gas block managed by PT Pertamina Hulu Energi (PHE), namely in the Offshore North West Java Block, precisely in the Zulu Field and E-Main. In addition, in the Batang field which is operated by PHE Siak, an EOR Steam flooding pilot project will be conducted in the near future.
Acquisition of oil and gas blocks
In addition to EOR, Nicke said that the acquisition of oil and gas production blocks overseas is also the company's strategy to accelerate the achievement of 1 million BPD oil production in 2026.
"Because it is a faster and more effective way to increase production, the acquired blocks will produce," Nicke said.
Referring to Pertamina's data, the state-owned company will budget upstream oil and gas investment funds this year US $ 3.7 billion. The funds will be used to develop the upstream oil and gas business organically and inorganically.
For details, funds for developing the upstream oil and gas business organically or increasing oil and gas production from existing assets of US $ 3.57 billion. Meanwhile, for inorganic business development of US $ 150 million.
Pertamina Upstream Director Dharmawan H Samsu Sempat explained that the upstream oil and gas inorganic investment is the addition of oil and gas block assets. Unfortunately, he was reluctant to mention which oil and gas block the company was targeting.
Dharmawan only mentioned one of the regions that the company targeted to add assets, namely in Africa. Previously, Dharmawan H Samsu also briefly mentioned targeting oil and gas assets in the Middle East region.
The last time Pertamina took over oil and gas assets in another country was in 2017. At that time, the company acquired 64.46% shares of the French oil and gas company, Maurel and Promm. Through this acquisition, the company has oil and gas assets spread in Gabon, Nigeria, Tanzania, Namibia, Colombia, Canada, Myanmar, Italy, and other countries.
However, the main assets that have been producing are in Gabon, Nigeria, and Tanzania. In addition, in Algeria, the company has shares in the Menzel Lejmet North (MLN) Block, El Merk (EMK), and Ourhoud (OHD). Next, in Iraq, the company holds shares in West Qurna 1. Field. While in Malaysia, the company holds shares in Block K, Block Kikeh, SNR Block SK309, and Block SK311.
Investor Daily, Page-9, Thursday, Feb 27, 2020.
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