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Pertamina EP starts drilling for oil in North Sumatra
The company aims to reach a depth of 2,125 meters with a production target of 10.8 million barrels of oil and 62.8 billion cubic feet of natural gas.
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Logo of Pertamina EP (Courtesy of/pertamina-ep.com)
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T Pertamina EP, an upstream business subsidiary of state-owned oil and gas holding company Pertamina, has announced that the company had started drilling at the new oil and gas field Radius Meter -001 (RDM-001) in Langkat regency, North Sumatra.
Pertamina EP exploration and discovery project director Achmad Alfian Husein said the company aimed to reach a depth of 2,125 meters with a production target of 10.8 million barrels of oil and 62.8 billion cubic feet of natural gas, or 22 million barrels of oil equivalent.
“We can’t confirm the length of exploration yet because we still have some stages left,” Alfian said on Monday as quoted by kontan.co.id.
Alfian estimated that exploration would cost up to US$13 million.
Drilling at RDM-001 involves a Rig N110/59 with 1,500 HP capacity owned by PT Pertamina Drilling Services Indonesia (PDSI), which is also a subsidiary of Pertamina.
Pertamina EP president director Nanang Abdul Manaf expressed hope that drilling would produce positive results to increase oil and gas production in Langkat, which has been declining.
Previously, Deputy Energy and Mineral Resources Minister Arcandra Tahar said Indonesia needed to intensify exploration because the country’s proven oil reserves would last only about 12 years.
He said Indonesia’s proven oil reserves were only 0.2 percent of global proven oil reserves, while the country’s reserve replacement ratio was only 50 percent. (das/bbn)
