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Pertamina Targets Oil Lifting of 420,000 BOPD in 2024

29 May 2024 12:53 WIB

TEMPO.CO, JakartaPT Pertamina targets oil lifting of 420,000 barrels per day (BOPD) in 2024. President Director of PT Pertamina Hulu Energi Chalid Said Salim said oil lifting is still showing a positive trend despite the decline in national oil and gas production.

"The oil lifting still shows a positive trend every year," he said on  Tuesday, May 28, 2024.

This figure shows an increase compared to 2023 with 397,000 BOPD. In 2025, Pertamina's oil lifting target is 427,000 barrels per day.

To achieve this target, Chalid said Pertamina continues to maintain the optimization of the project by intensifying drilling and accelerating the sources, storage, and production. "The challenge now is land acquisition, environmental permits, and improving national capacity," he said.

Since 2014, the realization of national oil and gas production continues to decline by 2 percent until 2023. However, the production trend is quite good with a total of 1.04 million oil equivalent per day.

He explained that the Pertamina Group's contribution to the national oil production was 69 percent and 34 percent for gas production. This production includes gas and oil processed domestically and overseas.

According to Chalid, several monumental assets must be developed at the current time and in the future. These oil assets are spread across several locations such as the Rokan Block, Masela Block, East Natuna, Bunga, Peri Mahakam, Menzel Ledjmet Nord (MLN) Oil Field Algeria in the Sahara Desert, as well as additional Participating Interest (PI) in the West Qurna-1 Field, Iraq.

Additionally, Chalid explained that Pertamina has contributed to state revenues. Throughout 2023, tax revenues from Pertamina Hulu Energi for amount to US$3 billion, while non-tax state revenues up to US$4.2 billion. 

ILONA ESTHERINA

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