PT Pertamina Hulu Energi Marks 17th Year with Continued Commitment to National Energy Security

• 15 Jul 2024
• mk.novian.kusmana

Jakarta - As PT Pertamina Hulu Energi (PHE) celebrates its 17th anniversary on June 29, 2024, the company, as Pertamina's Upstream Subholding, reaffirms its dedication to bolstering national energy security. By May 2024, PHE had recorded oil and gas production of 1.05million BOEPD (Barrels of Oil Equivalent per Day), including 556,000 BOPD (Barrels of Oil per Day) of oil and 2,853MMSCFD (million standard cubic feet per day) of gas. Additionally, PHE completed the drilling of 5 exploration wells, 278 development wells, 381 workovers, and 14,386 well services, utilizing 70 drilling rigs and 139 WI rigs.

“Entering our 17th year, PHE continues to demonstrate optimal performance in contributing to national energy security. We remain committed to exploring our potential and strengths to support national production targets and domestic energy supply,” stated Chalid Said Salim, President Director of PT Pertamina Hulu Energi, on Wednesday, July 3, 2024.

Chalid added that as of May 2024, PHE had achieved an additional 253 million barrels of oil equivalent (MMBOE) in 2C resources. Significant exploration successes include discoveries at Ambar, SSD, Tedong, West Beluga, and Yaki Emas.

These accomplishments are attributed to PHE's strategic management in maintaining baseline production, driving production growth through work plans and mergers & acquisitions, and increasing reserves & resources while prioritizing Environmental, Social, and Governance (ESG) aspects.

In its efforts to contribute to the national economy, PHE acquired three new exploration blocks in 2023: East Natuna, Peri Mahakam, and Bunga. The company also added a 10% Participating Interest (PI) in Iraq, extended the Algeria block, and acquired a 20% PI in Masela. In early 2024, the Upstream Subholding, through PT Pertamina Malaysia Eksplorasi Produksi (PMEP), won the SK510 exploration block auction in Malaysia Bid Round (MBR) 2023.

PHE, along with PT Pertamina Internasional Eksplorasi dan Produksi (PIEP), PT Elnusa Tbk, and Pertamina Drilling Services Indonesia (PDSI), has signed a joint overseas cooperation MoU to enhance synergy and empower upstream subsidiaries in international collaborations.

PHE also celebrates the arrival of the jackup rig 'Emerald Driller' in the Java Sea, to be used in offshore drilling projects for PT Pertamina Hulu Energi Offshore Southeast Sumatra (PHE OSES) and PT Pertamina Hulu Energi Offshore North-West Java (PHE ONWJ). This symbolizes a new spirit and national resurgence towards energy security, independence, and sovereignty.

PHE's performance also positively impacts community empowerment, especially in Pertamina's Upstream Subholding working areas. By May 2024, the company had implemented 28 Desa Energi Berdikari programs benefiting over 15,000 individuals, reducing potential emissions by more than 296,259 tons CO2eq/year, and managing 174,433 tons/year of household waste. These initiatives have saved energy costs for partners by over 800 million IDR/year, and PHE has provided scholarships to 522 students.

Recognizing the need for green operations, PHE has integrated decarbonization into its strategy. By May 2024, PHE had reduced carbon emissions by 497,319 tons CO2eq through 132 programs nationwide.

“Strengthening our commitment towards Net Zero Emission, PHE has signed a Carbon Capture Cooperation with ExxonMobil to develop a regional CCS/CCUS hub in the PT Pertamina Hulu Energi Offshore Southeast Sumatra (PHE OSES) area. This project aims to store domestic and international CO2 through the Asri Basin Project CCS Hub,” Chalid added.

These achievements reflect the hard work of over 14,000 Pertamina employees and the support of advanced digital technology. Continuous development of integrated, standardized, innovative, and agile data analytic solutions, an integrated data center & disaster recovery center infrastructure, and robust information security governance ensure PHE's business continuity.
 

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