PHR Drilling Pursues 300 Thousand BOPD Production by 2025

Minas, December 23, 2021 - After successfully achieving average production of 162 thousand barrels of oil per day (BOPD) until November 2021, PT Pertamina Hulu Rokan (PHR) targets production of 180 thousand BOPD next year.

Jaffee Arizon Suardin, President Director of PHR, said that the management transfer process is going well. PHR is intensively drilling, which is supported by 17 rigs currently operating.

"Our dream in 2024 is to pursue the production of 270 thousand BOPD. In 2025, we are pursuing 300 thousand BOPD," said Jaffee during a discussion with the media at the IODSC PHR building, Minas, Riau, Tuesday (21/12).

According to Jaffee, to support the production target of 300 thousand BOPD, PHR continues to drill massively. In 2022, PHR targets to drill 400-500 wells by adding three rigs to 20 rigs.

"To reach 300 thousand BOPD, it is not only drilling new wells, but all ecosystems must be prepared, and this requires a large investment," said Jaffee.

PHR, established on December 20, 2018, began to take over the management of the Rokan Working Area (WK) from PT Chevron Pacific Indonesia on August 9, 2021. In addition to WK Rokan, as the holding company for Regional 1 Sumatra, PHR also manages all of Pertamina's production assets in Sumatra. Currently, Regional 1 Sumatra contributes 35% of Pertamina's total oil and gas production through Upstream Subholding.

Apart from supporting Pertamina to become a global energy company with assets of USD 100 billion, PHR also wants to become a global oil and gas company. To support these ideals, PHR has the tagline "SUMATERA" or Sustainable, Massive, To grow, Efficient, Resilient, and Aggressive.

"We are not only holding back decline but also increasing production. If Rokan does not make any effort, the decline can be 26%. In addition, to support our growth, we also provide opportunities for the nation's children and local people to work at PHR," said Jaffee.

Meanwhile, Reinhard Parapat, Independent Commissioner of PHR, hopes that all parties will support PHR as one of the largest oil producers to continue showing its best performance.

"It is to support the production target of one million barrels of oil per day in 2030," said Reinhard.**