PHE’s Third Quarter Production Hits 98.1% of the Target

Summary

PT Pertamina Hulu Energi (PHE) production from January to September 2010 has reached 867 MBOEPD. The oil sector produced 411 MBOPD in total as 311 MBOPD came from domestic fields, and 99 MBOPD were from international assets. Meanwhile, the gas production hit 2,647 MMCFD: 2,392 MMSCFD were of domestic output, and 255 MMSCFD were from international fields. “The realized output by the end of September was 98.1 percent of the 2020 target due to the lower gas absorption and the limited capacity of storage terminal refineries. Especially for international assets, OPEC’s curtailment significantly affected the performance,” the PHE Director of Operations and Production, Taufik Adityawarman, explained.

Nevertheless, amid the COVID-19 pandemic, PHE keeps trying to maintain the operation level by drilling ten exploration wells and 206 exploitation wells, 451 workovers, and 7416 well services as of last September. Besides, Pertamina’s Upstream Subholding maximized storage facilities at production storage terminals, monetized on stream projects by 2020, reduced planned shutdowns, and anticipated unplanned shutdowns by increasing the reliability of production facilities. “Based on the latest oil and gas production data, the prognosis for production by the end of the year can reach 867 MBOEPD, consisting of 412 MBOPD of oil production and 2,641 MMCFD of natural gas production,” said Taufik.

Start your free trial.

If you would like to get a 30-day free unlimited access to all of our insights, please click “Start free trial” button below. If you already have an account, please login.

What do subscribers receive?

As a subscriber, you’ll receive daily insights, weekly business digests, and bimonthly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Enjoy a 30-day free trial, on us. Feel free to contact us with any additional questions you have.