PT Pertamina Hulu Energi (PHE), an oil and gas upstream subholding of state owned energy company Pertamina, announces the discovery of oil reserves in Padang Pancuran, South Sumatra, as a result of intensive exploration in the last few months.
Chalid Said Salim, President Director of PHE said, this structure was found through PPC-1 well which was welded 3,750 feet deep (1,143 meters), early signs demonstrating the significant potential production.
Streaming testing demonstrated a stream of 2,040 barrels of oil per day (bpd) and followed by gasses counted less than 0.1 million standard cubic feet per day (MMSCFD).
With this foundation in South Sumatra, adding to 2024’s total of recoverable resources amounting to 143 million barrels of oil (MMBO) and 1.7 trillion cubic feet (TCF).
“This achievement is real proof of dedication and hard work from our exploration team, also the collaboration with SKK Migas (The Upstream Oil and Gas Regulatory Task Force) and the Ministry of ESDM (Energy and Mineral Resources). Hopefully, Padang Pancuran will be able to produce and develop so that it can contribute to the national oil lifting,” Chalid said on Monday, December 23, 2024.
In addition, Chalid explained this foundation does not only have a positive impact on the growth of the national economy, but also gives hope that it gives social benefit to the surrounding people through job openings, and infrastructure development.
Fadjar Djoko Santoso, Pertamina Vice President for Corporate Communication, added that Pertamina will increase production in the upstream sector and will find new reserves to preserve national energy resilience in the near future.
“Pertamina’s role in energy self-sufficiency pushes us to make new game changing energy planning, both from oil and gas and building sustainable business energy alongside new renewable energy,” Fadjar said.
