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Jakarta Post

Pertamina records production growth in Q1

  • News Desk

    The Jakarta Post

Jakarta   /   Tue, May 29, 2018   /   12:30 pm
Pertamina records production growth in Q1 Pertamina. (Shutterstock.com/Casimiro PT )

State oil and gas firm Pertamina has recorded growth in its upstream sector in the first quarter of 2018.

The company’s oil and gas production from January to March reached 923,000 barrels of oil equivalent per day. This consists of oil production at 386,000 barrel per day (bpd), a 14 percent increase from the same period year-on-year. Further, gas production increased 55 percent to 3,115 million standard cubic feet per day (mmscfd) yoy.

“Pertamina has recorded a satisfactory upstream performance in the first quarter of this year,” Pertamina upstream director Syamsu Alam said as reported by kontan.co.id.

The company also recorded a slight growth in geothermal production. In the first quarter of 2018, geothermal production in electricity equivalent reached 959 gigawatt hours (GWh), or about a 1 percent growth yoy.

In production, Pertamina aims this year to maintain its production in the Mahakam block in East Kalimantan by developing the Tunu Shallow Phase 4, Handil Phase 5 and Tambora Phase 5. The company also plans to increase production in its Banyu Urip field in the Cepu block in East Java and optimize geothermal operations in Ulubelu in Lampung, Kamojang in West Java and Lahendong in North Sulawesi, among others.

In terms of upstream projects, the company is prioritizing geothermal projects in Karaha in West Java and Lumut Balai in South Sumatra , and gas in Jambaran Tiung Biru in East Java, among others. (dwa)