REPUBLIKA.CO.ID, JAKARTA -- PT Pertamina Hulu Energi (PHE), a subsidiary of the state owned energy company PT Pertamina already overshot its gas production target by the end of the first half of the year.
PHE produced gas 728 million cubic feet per day (MMSCFD)in the first half of the year, already exceeding its whole year production target of 725 MMSCFD or realization of 678 MMSCFD in 2015.
Gunung Sardjono Hadi, the president director of Pertamina Hulu Energi (PHE) attributed the strong growth in PHE production to the coming on stream of the Senoro Toili gas field and the acquisition of NSO/B block.
Hadi said PHE has no plan to increase its oil production as the price is still low. The company's oil production target is set at 62,613 barrels per day (BOPD), lower than last year's production of 66,302 BOPD.
He said PHE continued to maintain profiles in all subsidiaries through shifting.
He cited, shifting is made from oil to gas, saying as a result oil production would decline but gas production would increase.
He said PHE would still focus activities on major blocks such as PHE Offshore North West Java (ONWJ) and PHE West Madura Offshore (WMO).
Gas fields potential to contribute additional production in the next two to three years are the Senoro Toili and Jambi Merang gas fields and NSO/B block.
Currently, PHE has 57 subsidiaries , seven joint venture companies and two affiliates in Indonesia and abroad.
Subsidiaries, joint venture companies and affiliates of PHE operate in the upstream oil and gas industry (including coal methane gas and non conventional oil and gas) in the country and abroad , and in downstream sector.
Among the subsidiaries, 21 are the operators in upstream industry in their respective working areas.
Hadi said in general PHE has performed well so far amid the global crisis. The company has strategy to survive.
Strategy for efficiency is given an emphasis not only in operation and production but also in management.
Meanwhile chairman of the Commission VII of the House of Representative Gus Irawan Pasaribu said he appreciated the strategy adopted by PHE.
Gus said efforts should continue to increase production not only gas but also oil production.
He said production should not be cut despite the falling price as a cut in production would result in larger imports and imports would cut in the country's foreign exchange reserve that would weaken rupiah.
He said Pertamina as a state company is expected to contribute to creating macro economic stability including rupiah stability.
Komaidi Notonegoro, the executive director of Reforminer Institute, said PHE has a number of oil and gas field that would allow it to increase production such as ONWJ and WMO, which has been acquired by Pertamina.
Komaidi said under the prevailing condition only Pertamina has commitment to increase production . Pertamina is even quite aggressive in explorations.
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