Jakarta - PT Pertamina Hulu Indonesia (PHI), as the Regional Kalimantan Subholding Upstream managed to exceed the oil and gas production target that has been set with an average production level until the third quarter of 2021 for oil value of 62.95 thousand barrels per day (mbopd) and gas of 684.34 million standard cubic feet per day (mmscfd).

The President Director of PHI, Chalid Said Salim, explained that PHI as Kalimantan Region continues to take strategic steps in business and operational aspects to ensure asset economy with the intention to provide benefits and value to all stakeholders in a sustainable manner.

Chalid stated that, “As the manager of the ex-termination work area that has been operated for more than 50 years, we make various efforts to maximize reserves and production from mature oil and gas fields and maintain asset economy. Not to mention, we have managed to control the natural production declining rate of oil and gas wells, which currently has reached more than 50 percent to around a dozen percent.”

Furthermore, Chalid explained that the largest contribution to Kalimantan Regional oil and gas production came from the Mahakam Work Area, which is operated by one of PHI's subsidiaries, namely PT Pertamina Hulu Mahakam (PHM). In fact, PHM succeeded in achieving 109.35% oil and gas production performance of 109.09% of the set targets with an average of 23.46 mbopd for oil and 490.37 mmscfd for gas in the third quarter.

Chalid also added, “At PHM, we have successfully implemented various innovations to maximize the addition of reserves and production through systematic, effective and efficient seismic interpretation activities, management of low-pressure wells, reactivation and optimization of abandoned wells, use of rig less temporary abandonment, and the Locomotive program. -8.”

"We at PHI are committed to expand our invest in projects to develop existing oil and gas assets and explore new oil and gas fields. We believe that our commitment and efforts can produce the oil and gas production which are required to support national energy needs and provide value for all stakeholders, including the government and the Indonesian citizen.”

In addition to production performance that had exceeded the target, PHI as a Kalimantan Region also ensures that safety performance as a top priority in carrying out its oil and gas operations and business. As of this September, PHI has managed to achieve more than 52 million working hours without accidents with a Total Recordable Incident Rate (TRIR) of 0.16 compared to 0.53 TRIR values ​​that are still allowed.

PHI as a part of Subholding Upstream as Regional Kalimantan is committed to overcome various business and operational challenges during the pandemic in running oil and gas operations that are safe, effective, efficient and environmentally friendly, as well as supporting Pertamina's organizational transformation to achieve its aspirations as a global energy company champion with a market value of 100 billion dollar.