PHE OSES Finds 20 Million Barrels of Oil Reserves in Thousand Islands

By Editorial Team 01/12/2021
Summary

PT Pertamina Hulu Energi Offshore Southeast Sumatra (PHE OSES) discovered oil reserves in Krisna Field located around the Thousand Islands, Jakarta. PT Pertamina Hulu Energi (PHE) President Director Budiman Parhusip said his party was calculating the data from the findings. "We are currently maturing it and developing it so that it can be tight-in to the existing facilities," he said on Tuesday.

According to Budiman, the discovery of the new reserves as a result of surface exploration activities in the OSES Block will increase Pertamina's oil reserves. PHE estimates that the oil well in the Krisna Field is capable of producing 2,000 barrels of oil per day (bopd) and has reserves of 20 million barrels. Thus, it can support the national oil production target of 1 million bopd and 12 billion standard cubic feet per day (bscfd) by 2030.

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