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128 PT Pertamina Hulu Energi 2022Laporan TahunanAnnual ReportAnalisis dan Pembahasan ManajemenManagement Discussion and Analysispermintaan akibat melonjaknya kasus COVID-19 di Cina dan perang di Ukraina. Berdasarkan data Reuters, harga minyak mentah Brent pada perdagangan 30 Desember 2022 ada di level USD85,91 per barel. Sementara minyak mentah West Texas Intermediate (WTI) berada di level USD80,26 per barel.%u00a0Di sisi lain, Federal Reserve mencoba membatasi kenaikan harga di pasar tenaga kerja yang ketat karena pasar minyak terpengaruh kenaikan suku bunga AS. Lemahnya dollar AS membuat minyak lebih murah bagi pemegang mata uang lainnya dan dapat meningkatkan permintaan. Gejolak pasar minyak dunia turut memengaruhi harga minyak di Indonesia. Pemerintah memutuskan menaikkan harga BBM Pertalite dan solar pada September 2022. Pada awal tahun 2023, harga minyak dunia sudah turun hingga 38,25%.%u00a0Untuk menghadapi kondisi ini, pasokan migas perlu untuk ditingkatkan. Oleh sebab itu, Pemerintah Indonesia terus mendorong percepatan proyek-proyek hilir migas. Pemerintah terus mendorong pelaksanaan program rutin Kontraktor Kontrak Kerja Sama (KKKS) sesuai komitmen dalam Work Program and Budget (WP&B), dan telah terealisasi pengeboran 545 sumur atau mencapai 61% dari target 890 sumur di triwulan ketiga tahun 2022. Berdasarkan data SKK Migas, kegiatan workover sudah mencapai 495 sumur atau sekitar 87% dari target tahun 2022, sedangkan kegiatan well service sudah mencapai 22.511 sumur atau 99% dari target. Dari jumlah tersebut, PHE Subholding Upstream berkontribusi dengan melakukan pengeboran 689 sumur, 638 workover, dan 29.352 kegiatan well service.Masifnya pengeboran sumur pengembangan serta kegiatan workover dan well service berdampak pada peningkatan produksi migas hingga akhir tahun 2022, sehingga akan mendukung produksi migas pada level yang lebih optimal di awal tahun 2023. Berdasarkan data SKK Migas per triwulan ketiga tahun 2022, realisasi produksi minyak mencapai 613.000 BOPD atau 86,8% dari target, lifting%u00a0 minyak mencapai 610.100 BOPD, serta salur gas sebesar 5.353 MMSCFD. Total%u00a0 lifting%u00a0 migas mencapai sekitar 1,56 BOEPD atau sekitar 90,1% dari target APNB, yaitu 1,73 juta BOEPD.Oil and Gas Industry ReviewTinjauan Industri Minyak dan Gasconflict in Ukraine, which increased demand concerns. According to data from Reuters, the price of Brent crude oil on 30 December 32022 was USD 85.91 per barrel, while the price of West Texas Intermediate (WTI) crude oil was at USD 80.26 per barrel. On the other hand, the Federal Reserve attempted to limit price increases in a tight labor market as rising US interest rates impact the oil market. A weaker U.S. dollar reduces the cost of oil for holders of foreign currencies, which can increase demand.The turmoil on the global oil market also affected oil prices in Indonesia. In September 2022, the government increased the price of Pertalite and diesel fuel. Beginning in 2023, global oil prices had decreased by 38.25%. To address this issue, the oil and gas supply must be increased. Consequently, the Indonesian Government continues to promote the acceleration of downstream oil and gas projects.The Government continues to encourage the implementation of the Cooperation Contract Contractors (KKKS) routine program in accordance with the commitments outlined in the Work Program and Budget (WP&B). As of the third quarter of 2022, 545 wells have been drilled, which is 61% of the target of 890 wells. According to data from SKK Migas, workover activities have reached 495 wells, or approximately 87% of the target for 2022, while well service activities have reached 22,511 wells, or 99% of the target. PHE Subholding Upstream contributed to this total through the drilling of 689 wells, 638 workovers, and 29,352 well service activities.The massive drilling of development wells as well as workover and well service activities impacted oil and gas production until the end of 2022, allowing for more optimal oil and gas production in early 2023. According to data provided by SKK Migas for the third quarter of 2022, actual oil production reached 613,000 BOPD, or 86.8% of the target; oil lifting reached 610,100 BOPD; and gas distribution reached 5,353 MMSCFD. Total oil and gas extraction reached approximately 1.56 million BOEPD, or approximately 90.1% of the APNB target of 1.73 million BOEPD.