PT Pertamina (Persero) ensures that strategic project investment in all of the company's business lines will continue during the pandemic.
VP of Corporate Communication of Pertamina, Fajriyah Usman, said that the company is committed to maintaining national energy production in the next few years.
"Even though we were hit by a triple shock during the pandemic and it caused obstacles in the field," said Fajriyah.
She said several strategic projects in the upstream area, such as Jambaran-Tiung Biru managed by PT Pertamina EP Cepu (PEPC), are currently continuing and have successfully carried out rigless perforation with smart coiled tubing units.
This project will produce gas from the Jambaran-Tiung Biru unitization field with an average production of 192 MMscfd with a target gas on stream in 2021. In addition, activities off the north coast of West Java carried out by PHE ONWJ are continuing. After completing the KLD-1 well drilling, the KLD ONWJ development project is currently entering the KLD-3 well drilling stage.
This project is targeted to increase reserves and production by December 2020. In other business sectors, Pertamina continues the development of the PT Pertamina International Refinery. One of them is the Balikpapan and Lawe-lawe RDMP project, which is worth the US $ 6.5 billion.
Pertamina President Director Nicke Widyawati revealed the triple shock that Pertamina experienced during the pandemic.
First, a decrease in sales of 25% nationally. Second, the company's cash flow is affected by rupiah fluctuations. Nicke admitted that he had created a tough and very tough scenario to anticipate the effect of the exchange rate on the company's revenue. Third, the company's cash flow is affected by fluctuations in world oil prices. Currently, global crude oil prices are very volatile due to falling demand amid Covid-19.
Bisnis Indonesia, Page-5, Monday, Nov 2, 2020
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