PHI's 1st-quarter oil, gas production surpasses targeted 649.2 mmscfd

PHI's 1st-quarter oil, gas production surpasses targeted 649.2 mmscfd

PT Pertamina Hulu Indonesia's offshore oil and gas drilling site. ANTARA/HO-PHI.

In 2021, PHI plans to drill five exploration wells and develop more than 80 wells.
Jakarta (ANTARA) - PT Pertamina Hulu Indonesia (PHI) announced its oil and gas production in the first quarter of 2021 had surpassed its target outlined of 649.2 million standard cubic feet per day (mmscfd) despite the COVID-19 pandemic.

Oil and gas production in the January-March 2021 quarter had reached 688.8 mmscfd, or 106.1 percent higher than the targeted 649.2 mmscfd, PHI President Director Chalid Said Salim stated in Jakarta on Tuesday.

Oil production alone in the first quarter had reached 49 thousand barrels of oil equivalent per day (BEO/D), or 100.4 percent of the target, he noted.

Salim affirmed that success achieved through positive performance in the first quarter of 2021 aligned with the company's commitment to maintaining and boosting oil and gas production by drilling and developing exploration wells.

To achieve national energy resilience, PHI has drilled and developed its oil and gas exploration wells in its regional working area 3 in Kalimantan, he remarked.

"In 2021, PHI plans to drill five exploration wells and develop more than 80 wells," he stated.

One of the exploration wells -- TDE C-1X -- is a pioneer for similar exploration that is projected to unearth economic deposits to extend the production age in the Mahakam working area.

As the management of the oil and gas working area, PHI and its subsidiaries, such as PT Pertamina Hulu Mahakam, PT Pertamina Hulu Sanga Sanga, PT Pertamina Hulu Kalimantan Timur, PT Pertamina Hulu Attaka, and PT Pertamina Hulu West Ganal, operate oil and gas fields and production facilities aged tens of years. Hence, technological innovation and creativity is deemed necessary to maintain operational performance.

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