First Quarter, Pertamina Oil and Gas Production Increases Slightly

PT Pertamina (Persero) recorded oil and gas production until the first quarter of this year of 919 thousand barrels of oil equivalent per day (barrel oil equivalent per day / boepd), up slightly compared to the realization of the same period last year of 901 thousand boepd. This year, Pertamina targets oil and gas production of 923 thousand boepd.

Pertamina Upstream Director Dharmawan Samsu said oil and gas production in the first quarter of 2020 was recorded at 919 thousand boepd, an increase of 2% compared to last year's average production. Specifically, oil production averaged 421 thousand Barrels Per Day (BPD), while gas production averaged 2,887 million standard cubic feet per day / mmscfd.

"By adjusting work systems and personnel to anticipate the Covid-19 pandemic, Pertamina is still working to keep oil and gas production in line with the targets in the RKAP (work plan and company budget). Until now, it has reached 99% of the target, "he said.

Dharmawan added, the positive performance of the company's oil and gas fields abroad. Pertamina's subsidiary, PT Pertamina International EP (PIEP) managed to contribute oil and gas production by 156 thousand boepd or 103% of the target for the first three months of 2020.

"The increase in production is mainly from field performance in Algeria," he added.

This year, Pertamina set oil and gas production targets of 923 thousand boepd which consisted of oil production of 430 thousand BPD and 2,857 gas mmscfd. When compared with this year's target, the company's oil production realization of 421 thousand BPD was only 97.9 percent of the target. While Pertamina's gas production is around 1% above the target. Dharmawan admitted that the 923 thousand boepd target was very challenging. To ensure oil and gas production targets can be achieved, he will ensure the drilling plan is carried out according to schedule.

"The production target of 923 thousand boepd is very heavy, because we have to make sure that drilling cannot be late," he said.

Pertamina's oil and gas production this year is planned to be obtained from the contribution of oil and gas production from Pertamina's upstream operations in the country amounting to 765 thousand boepd and 158 thousand boepd abroad. From foreign assets, oil production is targeted to increase slightly from 105 thousand BPD to 107 thousand BPD, and gas production will increase from 276 mmscfd to 298 mmscfd. While from the domestic oil and gas block, oil production is targeted at 323 thousand BPD 2,559 mmscfd gas.

For information, the company's oil and gas block assets in the country are managed through its subsidiaries, PT Pertamina Hulu Energi (PHE), PT Pertamina Hulu Indonesia (PHI), PT Pertamina EP, and PT Pertamina EP Cepu (PEPC). PHE targets oil production of 84 thousand BPD and 822 mmscfd of gas. While Pertamina EP set a target of oil production of 85 thousand BPD and 965 mmscfd of gas.

PT Pertamina EP Cepu (PEPC)

PHE plans a number of activities to achieve this year's target, namely drilling 51 development wells and 6 exploration wells, as well 50 wells. While Pertamina EP will drill 108 development wells and 10 exploration wells in 2020.

Anticipate a Global Situation

To anticipate the impact of the decline in world crude oil prices coupled with the Covid-19 pandemic, Dharmawan said, Pertamina take anticipatory steps by implementing a business continuity plan while continuing to conduct in-depth evaluations for prioritizing work plans, operating costs, and investments. This is in line with corporate policies to optimize financing.

"Pertamina continues to maintain the upstream investment level to meet national oil and gas needs, both in production and lifting, but with some adjustments based on priority scale so that the economics of the project can also be achieved," Dharmawan explained.

Pertamina also continues to monitor the development of the global situation, mainly the world price of crude oil, the rupiah exchange rate against the dollar, and the impact of the Covid-19 pandemic. Referring to Pertamina's data, of the total investment budget of the company this year of US $ 7.8 billion, most of it is allocated for upstream oil and gas investment amounting to US $ 3.7 billion. This upstream investment budget is up compared to last year.

ENI Block

Previously, Dharmawan revealed, the increase in upstream investment was partly because the development of the Merakes Field, East Sepinggan Block will begin in 2020. In this block, for information, Pertamina through PHE has a participating interest / PI of 15%. While the operator of this block is ENI. ENI was approved by the plan of development / POD in April last year.

Under the POD, ENI plans to drill six subsea wells and build an underwater pipeline system that will be connected to the floating production facility / FPU Jangkrik block in Muara Bakau Block. Referring to SKK Migas data, the Merakes Field is targeted to start operating in 2021. The peak of field production is estimated to reach 60,305 boepd.

Investor Daily, Page-9, Wednesday, April 8, 2020

Positive Pertamina Refinery Progress

PT Pertamina (Persero) continues to record positive progress to complete the construction of a national refinery to meet the targets set. The project, known as the Refinery Development Master Plan (RDMP) and Grass Root refinery (GRR) megaprojects, continues to be accelerated to pursue national energy security and independence, which is marked by the stop of imports of fuel oil (BBM) in 2026.

Fajriyah Usman

    Pertamina Corporate Communication Vice President Fajriyah Usman stated, the RDMP and GRR megaprojects showed very significant developments at each stage of development. The East Kalimantan Balikpapan refinery, up to the quarter 1-2020, has reached 15.02 percent, and by the end of this year it is targeted to reach 40 percent.

Meanwhile, the Balongan Refinery in West Java and the Cilacap Refinery in Central Java are each targeting 10 percent this year and will continue to be accelerated according to the target stages of development. In the context of acceleration, Pertamina has carried out a number of works, such as jetty construction, site development, workshop and warehouse construction, construction of laboratory buildings and Health, Safety, Security and Environment (HSSE), as well as other supporting facilities, "said Fajriyah Usman

Fajriyah explained, Pertamina had also completed the procurement of the main equipment, which took a long time to ensure the project went on target. At present the main equipment is in the process of making or manufacturing. In addition, negotiations with business partners and investors also continued well.

A number of memorandum of agreement and business agreements have been signed between Pertamina and various parties, such as The Abu Dhabi National Oil Company (ADNOC), Mubadala, 

Rosneft, K-Sure, and so forth. Including negotiations with Saudi Aramco also continues which is targeted to be completed by the end of April 2020.

Balongan RDMP Project, divided into three Phases. The Balongan Phase 1 RDMP development is currently in the Dual FEED Competition (DFC) stage with two consortia, namely the RRE Consortium (PT Industri Industri, PT Teknik Engineering, and PT Enviromate Technology International) and the JSW consortium, including J GC Indonesia, PT Synergy Engineering, and PT Wijaya Karya.

This process is targeted to be completed in May 2020. For Phase 2, a Feasibility Study is currently underway and the ARDHM Unit Revamp Study is currently underway. While for Balongan RDMP Phase 3 (New Refinery and Petchem Complex West Java), the Feasibility Study will be conducted with partners and are in the location and land acquisition.

Progress of Balongan Phase 3, currently in the process of procurement of land and partnership, namely Pertamina and ADNOC have signed a Memorandum of Understanding (MOU) for the development of the Petrochemical Integrated Complex in Balongan, West Java. The Plaju refinery is currently entering into a BED Licensor procurement, and is starting the BED Work. Meanwhile, Dumai RDMP is in the stage of conducting a Bankable Feasibility Study (BFS) revisit tender.

"Meanwhile, Tuban GRR has been completed with the land acquisition process and is in the process of payment. Pertamina and Rosneft have even signed a Tuban Refinery design contract with selected contractors on October 28, 2019. At present the Basic Engineering Design (BED) and Front End Engineering Design (FEED) have begun.

Land Clearing progress has reached 90.08 percent and restoration progress has reached 46.40 percent. The progress of General Engineering Design (GED) has reached 6.22 percent.

"With the support of all parties, the construction of the refinery is expected to run smoothly and be completed according to the targeted time so that we can be sovereign energy," said Fajriyah.

When the COVid - 19 pandemic that hit the world, Pertamina delivered the good news of oil and gas production in the first quarter of 2020 which recorded an increase of two percent compared to the average production in 2019.

Pertamina Upstream Director, Dharmawan Samsu stated, oil and gas production in the first quarter of 2020 recorded 919 million barrels of oil equivalent per day (MBOEPD), an increase of two percent compared to the average production in 2019 of 901 MBOEPD.

In detail, oil production averaged 421 thousand barrels per day (MBOPD), while gas production reached an average of 2,887 million standard cubic feet per day (MMSCFD).

"By adjusting work systems and personnel to anticipate the Covid-19 pandemic, Pertamina is still working to keep oil and gas production in line with the targets in the RKAP. Until now, it has reached 99 percent of the target, "said Pertamina Upstream Director, Dharmawan Samsu.

Dharmawan added, positive performance also came from oil and gas field operations operating abroad through a subsidiary of PT Pertamina International EP (PIEP) which successfully contributed oil and gas production by 156 MBOEPD or 103 percent of the 2020 Quarter-1 target.

"This increase in production is mainly from field performance in Algeria," Dharmawan said.

Republika, Page-9, Wednesday, April 9, 2020

7 Oil Producers Exceed Production Targets

Seven Indonesian oil producers (Cooperation Contract Contractors / KKKS) exceeded the 2020 oil production target set in the State Budget (APBN).

The seven oil producers are ExxonMobil Cepu Ltd (EMCL), Chevron Pacific Indonesia, Pertamina Upstream Energy ONWJ, Medco E&P Natuna, Pertamina Upstream Sanga-Sanga, Medco E&P Rimau, and JOB Pertamina-Medco Tomori Sulawesi LTD. Exceeding the highest target was achieved by Medco E&P Natuna which reached 119.6% of the APBN target.

"We continue to supervise and increase the intensity of coordination with KKS Contractors to discuss steps to improve upstream oil and gas operational performance and program implementation in line with Work, Programs and Budget (WP&B) in 2020," said Head of the Special Task Force for Upstream Oil and Gas Business Activities, Dwi Soetjipto, in Jakarta.

Dwi Soetjipto

Based on SKK Migas notes, until early March 2020, there are a number of KKKS that have not reached their production targets due to several reasons.

"There are KKKS that have carried out activities, but the results obtained are not as high as predicted or have not reached the target, for that we will evaluate the KKKS program and ensure that production is on target," Dwi said.

To monitor the investment and production activities of the KKKS, SKK Migas is calling at the same time finding a solution with the KKKS that cannot realize the production according to the target. 

    Regarding KKKS that have not yet reached the target, Dwi said, his party continues to conduct evaluations to ensure that the activities they carry out can support the achievement of production targets in the coming years, primarily in achieving the target of 1 million barrels.

In addition to the 7 oil producers, there are four KKKS gas producers that exceed the channeling targets, namely Pertamina Hulu Mahakam, ENI Muara Bakau BV, Premier Oil Indonesia and Petrochina International Jabung LTD. The highest production exceeding was achieved by Premier Oil Indonesia, which reached 121.2% of the APBN calculation target

Investor Daily, Page-9, Wednesday, March 11, 2020

To Boost Oil and Gas Production, Pertamina Expands Four Oil and Gas Blocks

PT Pertamina (Persero) plans to expand the development of the four oil and gas blocks it manages domestically and internationally. This development is expected to increase the company's oil and gas production this year and in the future.

Pertamina Upstream Director Dharmawan H Samsu said, in the country, there are three termination oil and gas blocks which are the focus of the company's development namely the Mahakam, Sanga-Sanga, and East Kalimantan Blocks. 

the Sanga-Sanga block

    Although, the company will still intensively work on developing all termination blocks that have been assigned by the government. The three oil and gas blocks are the focus because their potential is still very good.

"The potential is still good. So we can apply a philosophy called creating a second cycle of the field, extended [production] age, "he said.

The development of these three oil and gas blocks through the Field Development Optimization Program (OPLL). Currently, it is proposing approval of the OPLL-1 Program for the Sanga-Sanga Block where 755 development wells will be drilled in this oil and gas block in the next 2-2.5 years.

     He hopes that drilling in the Sanga-Sanga Block can begin this year. However, the Sanga-Sanga Block development plan has not yet been approved because it also proposed economic project incentives. On the other hand, continued Dharmawan, Pertamina will also lower the economic limits of the project.

"But the government is given incentives such as additional split (revenue sharing), licensing that is facilitated, then leasing state assets are given a bonus bonus. This so that the gas can still be extracted at a lower cost so that the economy is maintained and the production is good, "he explained.

the Mahakam Block

For the Mahakam Block OPLL, approval of the development plan has been given by the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas). However, it also seeks to develop the Mahakam Block, which can also be given incentives by the government.

Earlier in its official statement, SKK Migas announced that PT Pertamina Hulu Mahakam would drill 257 wells in five fields in the Mahakam Block during the 2020-2022 period. Investment costs incurred in the amount of US $ 1.5 billion. Dharmawan continued, it will also run the OPLL Program in the East Kalimantan Block.

"Soon we also want to apply for PHPL OPLL [Pertamina Hulu East Kalimantan]. This [development plan] has not yet been submitted, we are

evaluation, "he said.

In the Mahakam Block, Pertamina will also drill two exploration wells. According to Dharmawan, these two wells namely Sumur Tunu Deep East and South Peciko. Well drilling will begin around July and is expected to increase the production of the Mahakam Block given the deeper drilling will take place where temperatures and pressures are very high.

"We expect to contribute around 30 million cubic feet per day / mmscfd from these two wells. But we must explore first, "he said.

Overseas Assets Pertamina also plans to expand oil and gas assets abroad, one of which is in Algeria. Dharmawan said that his party wanted to develop the Menzel Lejmet North (MLN) 2 oil and gas field. This field is an area around the MLN-1 Field which has now been managed by the company.

"That is what we want to propose for our expansion. We are still negotiating with the Government of Algeria through Sonatrach, Algeria's oil and gas BUMN, "he said.

He explained, the MLN-2 Field was a new oil and gas area which was not included in the MLN-1 Field. In this field, several exploration results have been discovered that Pertamina wants to develop.

But Dharmawan could not confirm whether an agreement with the Government of Algeria for the development of the MLN-2 Field could be reached in 2020. At present Pertamina, through its subsidiary, PT Pertamina International EP (PIEP), is the operator and holder of a majority management rights of 65% in the MLN Field.

Block 405A

This field is part of Block 405A where Pertamina also has management rights in two other fields, namely EMK Field 16.9% and Ourhoud Field 3.73%. At the end of 2017, Pertamina had signed a revised memorandum of understanding on the management of the oil and gas block in Algeria with Sonatrach.

Through this new agreement, the Algerian oil and gas company has opened opportunities for Pertamina to develop existing assets and work on new assets that have the potential to produce 20-30 thousand barrels per day (BPD) and total reserves of more than 100 million barrels of oil.

As is known, Pertamina is targeting oil and gas production in 2020 of 923 thousand barrels of oil equivalent per day / boepd, namely 430 thousand BPD of oil and 2,857 mmscfd of gas. According to Pertamina's data, the company's oil production is recorded to rise 3.85% from this year's target of 414 thousand BPD, while gas production is down 2.92% from the 2020 target of 2,943 mmscfd.

IN INDONESIA

Genjot Produksi Migas, Pertamina Ekspansi Empat Blok Migas

PT Pertamina (Persero) berencana mengekspansi pengembangan empat blok migas yang dikelolanya di dalam dan luar negeri. Pengembangan ini diharapkan bisa menambah produksi migas perseroan di tahun ini dan masa mendatang. 

Direktur Hulu Pertamina Dharmawan H Samsu menuturkan, di dalam negeri terdapat tiga blok migas terminasi yang menjadi fokus pengembangan perseroan yakni Blok Mahakam, Sanga-Sanga, dan East Kalimantan. Walaupun, perseroan tetap akan secara intensif mengerjakan pengembangan seluruh blok terminasi yang telah ditugaskan oleh pemerintah. Ketiga blok migas tersebut menjadi fokus lantaran potensinya masih sangat bagus.

“Potensinya masih bagus. Jadi kami bisa menerapkan filosofi yang disebut menciptakan siklus lapangan yang kedua, diperpanjang usia [produksinya],” katanya.

Pengembangan ketiga blok migas ini melalui Program Optimasi Pengembangan Lapangan-Lapangan (OPLL). Saat ini, pihaknya sedang mengajukan persetujuan Program OPLL-1 untuk Blok Sanga-Sanga di mana akan dilakukan pengeboran 755 sumur pengembangan di blok migas ini dalam 2-2,5 tahun ke depan. 

Pihaknya berharap pengeboran di Blok Sanga-Sanga bisa dimulai pada tahun ini. Namun, rencana pengembangan Blok Sanga-Sanga ini belum disetujui lantaran pihaknya juga mengusulkan insentif proyek ekonomis. Di sisi lain, lanjut Dharmawan, Pertamina juga akan menurunkan batasan keekonomian proyek tersebut.

“Tetapi dari pemerintah diberikan insentif misalnya tambahan split (bagi hasil), perizinan yang dipermudah, kemudian sewa aset negara diberi bonus diskon. Ini

supaya gasnya masih bisa diekstrak dengan biaya yang lebih rendah sehingga keekonomian terjaga dan produksinya baik,” papar dia.

Untuk OPLL Blok Mahakam, persetujuan rencana pengembangan telah diberikan oleh Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas). Namun, pihaknya juga berupaya agar pengembangan Blok Mahakam ini juga dapat diberi insentif oleh pemerintah. 

Sebelumnya dalam keterangan resminya, SKK Migas mengumumkan bahwa PT Pertamina Hulu Mahakam akan mengebor 257 sumur di lima lapangan di Blok Mahakam selama periode 2020-2022. Biaya investasi yang dikeluarkan yakni sebesar US$ 1,5 miliar. Dharmawan melanjutkan, pihaknya juga akan menjalankan Program OPLL di Blok East Kalimantan. 

“Sebentar lagi kami juga mau mengajukan OPLL PHKT [Pertamina Hulu Kalimantan Timur]. Ini [rencana pengembangannya] belum di-submit, sedang kami evaluasi,” tuturnya.

Di Blok Mahakam, Pertamina juga akan mengebor dua sumur eksplorasi. Menurut Dharmawan, dua sumur ini yakni Sumur Tunu Deep East dan South Peciko. Pengeboran sumur akan dimulai sekitar Juli nanti dan diharapkan bisa menambah produksi Blok Mahakam mengingat pengeboran akan dilakukan lebih dalam di mana temperatur dan tekanannya sangat tinggi. 

“Kami harapkan bisa menyumbang sekitar 30 juta kaki kubik per hari/mmscfd dari dua sumur ini. Tetapi kami harus eksplorasi dulu,” ujar dia. 

Aset Luar Negeri Pertamina juga berencana melakukan ekspansi aset minyak dan gas di luar negeri, salah satunya di Aljazair. Dharmawan mengatakan, pihaknya ingin mengembangkan lapangan migas Menzel Lejmet North (MLN) 2. Lapangan ini merupakan area yang berada di sekitar Lapangan MLN-1 yang kini telah dikelola oleh perseroan.

“Itu mau kami propose untuk kami ekspansi. Kami masih negosiasi dengan Pemerintah Aljazair melalui Sonatrach, BUMN migas Aljazair,” tutur dia.

Dijelaskannya, Lapangan MLN-2 merupakan area migas baru yang tidak termasuk dalam Lapangan MLN-1. Di lapangan ini, telah ditemukan beberapa hasil eksplorasi yang ingin dikembangkan Pertamina. 

Namun Dharmawan tidak dapat memastikan apakah kesepakatan dengan Pemerintah Aljazair untuk pengembangan Lapangan MLN-2 bisa tercapai pada tahun 2020 ini. Saat ini Pertamina melalui anak usahanya, PT Pertamina International EP (PIEP), menjadi operator sekaligus pemegang hak kelola mayoritas sebesar 65% di Lapangan MLN. 

Lapangan ini merupakan bagian dari Blok 405A di mana Pertamina juga memiliki hak kelola di dua lapangan lainnya yakni Lapangan EMK 16,9% dan Lapangan Ourhoud 3,73%. Pada akhir 2017, Pertamina sempat meneken revisi nota kesepahaman pengelolaan blok migas di Aljazair dengan Sonatrach. 

Melalui kesepakatan baru ini, perusahaan migas milik Aljazair itu membuka peluang bagi Pertamina untuk mengembangkan aset eksisting serta mengerjakan aset baru yang memiliki potensi produksi 20-30 ribu barel per hari (bph) dan total cadangan lebih dari 100 juta barel minyak. 

Seperti diketahui, Pertamina menargetkan produksi migas pada tahun 2020 ini sebesar 923 ribu barel setara minyak per hari/boepd, yakni minyak 430 ribu bph dan gas 2.857 mmscfd. Sesuai data Pertamina, produksi minyak perseroan tercatat naik 3,85% dari target tahun ini 414 ribu bph, sementara produksi gas turun 2,92% dari target tahun 2020 ini 2.943 mmscfd.

Investor Daily, Page-9, Monday, Jan 6, 2020

Pertamina International Records Production of 122.6 Thousand BOEPD

Pertamina International EP (PIEP), a subsidiary of PT Pertamina (Persero) in the oil and gas exploration and exploitation sector abroad, recorded a net to share oil and gas production of 122.6 thousand barrels of oil equivalent per day / BOEPD until the quarter- III 2016, up slightly compared to the same period last year which recorded 113.6 thousand BOEPD.

PT PIEP's Managing Director Slamet Riadhy said, during the January-September 2016 period, PIEP recorded a net to share oil production of 86.7 bare] per day (BPD) and gas 207 million cubic feet per day / MMscfd. This production realization increased slightly compared to the January-September 2015 period which recorded 78.4 thousand BPD for oil and 204 Mmscfd for gas.

"This increase in production is supported by the average increase and Project Phase 4 Development in Algeria by 2,500 BPD, water injection in Iraq which increased by around 4,000 BPD, and gas and water injection in Malaysian oil and gas fields which added about 3,000 BPD,".

In accordance with the prognosis, the average PIEP net-share production until the end of 2016 was 123 thousand BOEPD, consisting of 87 thousand BPD oil and 215 MMscfd gas. Slamet promises to keep production levels on target until the end of the year.

"We will work hard to maintain production levels so that by the end of the year PIEP production is still maintained at around 120 thousand BOEPD,"

PIEP projects production to reach 700 thousand BOEPD by 2025. Production of that size comes from the existing oil and gas blocks, namely in Iraq, Malaysia, and Algeria, as well as from the addition of new assets.

Last year, from the target holding company of 93 thousand BOEPD, PIEP succeeded in realizing the production of 113 thousand BOEPD. Of this production, 39 thousand BPDs were obtained from Algeria, Iraq oil fields contributed 36,000 BPDs, and from the oil and gas block in Malaysia contributed 38,000 BPD. 

West Qurna 1 Field Iraq

   In 2025, the total production of oil and gas blocks in the three countries will increase to 250 thousand barrels. The biggest contribution came from Iraq's West Qurna 1 Field which will reach a production peak in 2022 of 1.6 million BPD.

With a participation of 10%, Pertamina gets 160 thousand BPD from Iraq. Then the oil and gas blocks in Malaysia and Algeria, will each contribute 45 thousand BPD. The remaining 350 thousand BPD is expected from new assets.

"Pertamina's choice to expand to foreign oil and gas blocks is a must. In 2025, Indonesia's oil needs will reach 2 million BPD. And this amount, Indonesia must import 1.5 million BPD ".

Oil and gas observer Ibrahim Hasyim said, at this time there is no need to doubt about Pertamina's ability in upstream and downstream oil and gas. Downstream, Pertamina is proven by its ability to supply and distribute oil and gas throughout the country. Upstream, Pertamina's production in the last few years has continued to increase when production has declined from other oil and gas business entities including international scale oil and gas business entities.

Investor Daily, Page- 9, Monday, Oct 17, 2016

PIEP Production Up 7.3%

PT Pertamina International EP (PIEP) recorded oil and gas production of 122,600 barrels of oil equivalent per heart in the third quarter of 2016 up 7.3% compared to the same period last year 113,600 boepd.

Pertamina International EP is a subsidiary of PT Pertamina (Persero) which carries out oil and gas exploration and exploitation activities abroad.

International Director of Pertamina Slamet Riadhy said the achievement came from oil production of 86,700 BPD and gas of 207 million cubic feet per day (MMscfd). Oil production in quarter III / 2015 78,400 BPD and gas 204 MMscfd.

He explained, this year's additional production came from and the development of oil and gas blocks in Algeria which added 2,500 BPD of oil. Through the application of water injection in Iraq, the production of 4,000 BPD of oil increased and the practice of gas and water injection in Malaysia contributed 3,000 barrels equivalent per day / boepd.

Oil production in Iraq comes from the West Qurna 1 Field with 178 active wells. In this block, ExxonMobil controlled 32.69% participating shares and became operator, PetroChina 32.69%, Shell 19.62%, Pertamina International 10%, and Iraq's South Oil Company (SOC) 5%.

Pertamina International EP (PIEP) controls a 65% stake in MLN Field, Algeria. In addition, PIEP also has a participation stake in EMK Field (Algeria) 16.9%, while Sonatrach (37.74%), Anadarko (18.13%), Talisman (9.10%), ENI (9.065%), and Maersk (9.065%).

Production contributions in Malaysia came from activities in Block K, Block Kikeh, SNP Block, SKS O9 Block, and SK 311. Block in that block, Pertamina partnered with Murphy Oil, Petronas, ConocoPhillips, and Shell.

This increase in production was supported by the average increase and Project Phase 4 Development in Algeria by 2,500 BPD, water injection in Iraq which increased by around 4,000 BPD, and gas and water injection in Malaysian oil and gas fields increased by around 3,000 boepd.

So far, the average PIEP production of 123,000 boepd, which is 87,000 BPD of oil and gas 215 MMscfd. The company must ensure that production stays at 120,000 boepd until the end of this year in accordance with the company's target.

Bisnis Indonesia, Page-30, Monday, Oct 17, 2016.