PHE oil, gas production surpasses its target

Jakarta, (ANTARA News) – PT Pertamina Hulu Energi (PHE), a subsidiary of state-run oil firm PT Pertamina, has recorded an average production of oil and gas at 229,441 barrel oil equivalent per day (boepd) in September, surpassing its target set at 224,818 boepd.

The average oil production in September has reached 80,103 barrels per day (bopd), the company said in a statement here on Wednesday.

While gas production during the period has reached 865 million standard cubic feet per day (mmscfd) or 105 percent of its target set at 824 mmscfd.

PT PHEs Director of Operation and Production Ekariza said, among the factors that has boost the companys performance is 100 percent participating interest of PHE Offshore Southeast Sumatra (OSES) for oil and gas exploration in Southeast Sumatra Block.

The increased production was also contributed by oil and gas production from its subsidiary companies including JOB Medco E&P Tomori Sulawesi, PHE NSO and NSB, PHE Ogan Komering, BOB Bumi Siak Pusako Pertamina Hulu, JOB Pertamina Talisman Jambi Merang, and JOB Pertamina Petrochina Salawati.

“The largest contribution to PHE production was sourced from PHE Offshore North West Java (ONWJ),followed by the SES Block and PHE West Madura Offshore (WMO),” he said.

With the increased production of oil in September, the companys average oil lifting has also increased to 81.9 thousand bopd, from its previous lifting of 61 thousand bopd.

The cumulative sum of oil and gas production by the end of the third quarter of 2018 is recorded at 198,505 boepd or 101.2 percent of its target at 196,247 boepd during the same period.

PHEs daily oil production during the third quarter of 2018 has reached 64,051 bopd or 97 percent of its target, while gas production during the period has reached 779 mmscfd or 103 percent of its target set at 754 mmscfd.

Source: ANTARA News