Pertamina Hulu Energi Announce Finding of 3 New Oil Reserves

TEMPO.CO, Jakarta - Pertamina Hulu Energi (PHE), a subsidiary of state-energy firm Pertamina, announced the discovery of three new oil and gas reserves following a vigorous exploration effort spread across the Western offshore area of Aceh (R-2 exploration), the Northern part of West Java offshore (Bajakah-001), and the Salawati Papua onshore Markisa-001. 

"The discovery of new reserves from these 3 exploration wells complements the successful discovery of previous reserves in first semester of 2022," said Director of Exploration of PT Pertamina Hulu Energi (PHE) - Upstream Subholding, Medy Kurniawan, in a written statement, Thursday, August 18.

The reserves explored in the first semester of 2022 he referred to were in Jambi, South Sumatra; the Northern part of West Java; and one at Mahakam. The drilling success ratio on an annual basis was 70 percent up to August.

"Until the middle of August, which coincides with the 77th Independence Day of the Republic of Indonesia, PT Pertamina Hulu Energi (PHE) Exploration has completed 8 wells and 7 on-going wells which will be followed by flow testing," said Medy.

Pertamina Hulu Energi is eyeing to complete 29 oil wells by the end of this year, which is a 242 percent target increase compared to the exploration realization in 2021 where the sub-holding managed to explore 12 wells. 

ARRIJAL RACHMAN 

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