Balikpapan - PT Pertamina Hulu Mahakam (PHM) managed to record a positive performance by producing632.5 million standard cubic feet (MMscf) of gas on 19 February 2023, which is 112% of the RKAP target set the year to date (YTD). This achievement equaled the production of PHM two years ago, on 21 February 2021, to be exact, which reached above 600 MMscf.

The General Manager of PHM, Krisna, said that this production figure was an extraordinary achievement because almost all fields in PHM had entered maturity and experienced a high natural production declining rate.
"At PHM, we continue to work to contain the rate of decline in production by implementing various innovations and the right technologies to produce better, faster performance with more efficient costs," he said.

The success of this PHM must be connected to the oil and gas incentives given by the Government in early 2021 so that it can maintain the economic level of upstream oil and gas projects managed by PHM. Oil and gas incentives open up opportunities for PHM to continue the Mahakam WK development work program more extensively, including a new well exploration program.

"Thanks to the oil and gas incentives, in 2022, we succeeded in realizing 96 development wells and one exploration well," he added.
President Director of PT Pertamina Hulu Indonesia (PHI), Chalid Said Salim, said PHI achieved this by optimizing and collaborating with various stakeholders. "We believe that a good economic level will ensure the continuity of investment and production of oil and gas companies needed to support the achievement of national production targets," said Chalid.

During the Work Visit of Members of Commission VII DPR RI to PHM (17/1), Wahju Wibowo, as Deputy for Exploitation of SKK Migas, said, "Basically, if (incentives) are not given to PSC Contractors who need them, the oil and gas industry will not run optimally. This incentive is given so that investment in oil and gas remains attractive. In addition, providing incentives provides time to develop exploration results."

PT Pertamina Hulu Mahakam (PHM) is a subsidiary of PHI that carries out upstream oil and gas operations and business according to ESG (Environment, Social, Governance) principles in the Mahakam Work Area in East Kalimantan. PHM and other PHI subsidiaries and affiliates continue to carry out various innovations and technological applications in producing safe, efficient, reliable, compliant, and environmentally friendly energy to realize #EnergiKalimantanForIndonesia. Further information on PHI is available at https://phi.pertamina.com.