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Pertamina eyes oil and gas production to increase by 4% this year
The firm aims to boost oil and gas production to 416,000 barrels per day (bpd) and 2,536 million standard cubic feet per day (mmscfd) in 2025, respectively, from 400,000 bpd and 2,454 mmscfd recorded last year.
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Water world: The Pertamina Hulu Energi (PHE) Offshore North West Java (ONWJ) oil and gas rig is seen from above on April 2, 2023, in the waters off Indramayu, West Java. (Antara/Aditya Pradana Putra)
State-owned oil and gas giant Pertamina targets 4 percent growth in its oil and gas production this year.
The firm aims to boost oil and gas production to 416,000 barrels per day (bpd) and 2,536 million standard cubic feet per day (mmscfd) in 2025, respectively, from 400,000 bpd and 2,454 mmscfd recorded last year.
Pertamina deputy president director Wiko Migantoro said that, to achieve the target, the firm will maintain the production base by optimizing wells and assets, increase production by implementing Enhanced Oil Recovery (EOR) development and boost upstream oil and gas reserves by conducting exploration projects.
Pertamina will also increase refinery output in line with growing domestic demand.
“Refinery intake [target] is set to increase from 323 million barrels to 334 million barrels in 2025,” Wiko told House Commission VI overseeing trade, industry and state-owned enterprises (SOEs) in Jakarta on Tuesday.
In 2024, Pertamina produced 69 percent of the total national oil and 37 percent of the total domestic gas production.
As of today, Pertamina is also managing 24 percent of the country’s oil and gas blocks.
