PHM Prepares US$ 150 Million for Offshore Platforms in Mahakam Block

Summary

PT Pertamina Hulu Mahakam (PHM) invested US$150 million in the Mahakam Block. The subsidiary of PT Pertamina is building three offshore platforms in the Sisi Nubi Field located in the Delta Sungai Mahakam and the South Mahakam Field located off the coast of Balikpapan in East Kalimantan. Pertamina Hulu Mahakam Acting President Director Danar Dodjoadhi said PHM signed an Engineering, Procurement, Supply, Construction, and Commissioning (EPSCC) contract with PT Meindo Elang Indah (MEI) on Monday (7/27).

The platform construction is the company's effort to meet the national oil and gas production target of 1 million barrels per day (bopd) by 2030. "When the three platforms have been built, their contribution is expected to reach 120 MMscfd [million metric standard cubic feet per day]," Danar said. PHM will use a minimum of 51.2 percent of local components (TKDN) in building the offshore platforms.

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