UPSTREAM SECTOR
At the end of 2017, oil equivalent production reached 693 MBOEPD and geothermal installed capacity reached 617 MW.
In February 2017, Pertamina through its subsidiary, PT Pertamina Internasional Ekplorasi dan Produksi (PIEP), finalized the acquisition of Maurel et Prom (M&P), a French oil and gas company with 72.65% ownership.
Of the 10 oil and gas working areas to which their contracts are to expire by 2018, in 2017 the Government has approved the contract with Pertamina for the Offshore North West Java (ONWJ) Block with a gross split scheme. Pertamina is also assigned as temporary manager of the Attaka Work Area for 10 months with a PSC scheme and as the manager of the Mahakam Block effective as of 1st January 2018.
INNOVATION AND DEVELOPMENT
- Exploration Activities
- 24 exploration drilling wells
- 2C Resources accomplishment until 2017 reached as much as 313.23 MMBO oil, 1,631.97 BSCF gas, oil and 594.90 MMBOE gas
- In April 2017, exploration at the Parang-1 Nunukan well by Pertamina Hulu Energi Nunukan Company (“PHENC”) and its partners succeeded in discovering a new oil and gas reserve in the Tarakan Basin consisting of 221 million barrels oil equivalent (MMBOE).
- Field Development Optimization
16 active projects in the development phase - Performance
- Crude oil production reached 341.70 MBOPD, up 9.7% compared to 2016
- Natural gas production reached 2,035.37, up 3.8% compared to 2016
- Geothermal electrical power equivalent production reached 3,900.23 GWh, up 28.2% compared to 2016
