Friday, February 23, 2024

PHE to boost massive and aggressive oil and gas exploration

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Oil and gas company Pertamina Hulu Energi (PHE) has expressed commitment to significantly intensify oil and gas exploration this year, aiming to discover new potential resources, particularly large-scale reserves or “big fish.”

Muharram Jaya Panguriseng, Director of Exploration at PHE, revealed several strategies for this year, intending to unearth new gas reserves. The strategies aim to optimize assets and maintain the current pace of gas production.

“The recent discoveries of gas resources in Indonesia indicate optimism that Indonesia still has significant potential for gas reserves,” Muharram said on Tuesday, February 6, 2024.

Therefore, Muharram continued, PHE is pursuing every potential, including drilling in existing exploration areas or near-field exploration, but with new exploration concepts and technologies.

These efforts have shown significant results, as evidenced by the discovery of potential gas reserves at the East Pondok Aren (EPN)-001 well in the PEP Tambun Field, Bekasi Regency, West Java, and the East Akasia Cinta (EAC)-001 well in the PEP Jatibarang Field, Indramayu, West Java, by the end of 2023.

“The discovery of new gas reserves in Bekasi and Indramayu, West Java, even went viral some time ago,” mentioned Muharram.

He added that PHE is also actively exploring in more challenging areas (emerging areas) to seize opportunities for acquiring big fish resources, although this comes with high risks and investment costs.

Currently, PHE has obtained new exploration blocks, namely East Natuna, Bunga, and Peri Mahakam, and is in the process of acquiring other new blocks.

“In late January 2024, Pertamina successfully won the exploration block SK510 in Malaysia in collaboration with Petronas,” he said.

Pertamina is also preparing for drilling in deep-sea waters in Natuna, Masela, and Mahakam. According to Muharram, the human resources competence of PHE is now well-prepared for deep-sea drilling.

He emphasized that the issue of oil and gas is not just economic but also related to the defense strategy of a nation. Moreover, the demand for oil and gas is still significant until 2050.

The national energy demand projection for 2030 is 500 Mega Tons Oil Equivalent (MTOE), increasing to 1,000 MTOE by 2050.

“Out of these numbers, the share of gas demand is projected to be 23% in 2030 and 31% in 2050,” stated Muharram.

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