Wednesday, 16 September 2009

Pertamina Oil & Gas Production Reaches Highest Record

Oil production of Pertamina EP again broke the highest record with production output of 136,504 barrel per day or 11,004 barrel higher than 2009 target of 125,500 barrel per day. This record complemented Pertamina’s highest production which reached 184,158 barrel per day including production of Pertamina Hulu Energy [PHE] of 47,654 barrel per day.

The achievements was one of the accomplishments of Pertamina at upstream industry which had been focused on finding breakthroughs to explore new oil reserves, whereby to jack up Pertamina’s production output. These achievements had built optimism at Pertamina to become the leading operator of oil & gas in Indonesia with the capability to increase production year after year.

In addition to oil, gas production of Pertamina also showed best performance with total production output 144 million cubic feet per day [MMDSCFD] which were contribution of Pertamina EF 1090 MMCFS and PHE amounting to 365 MMCFD. This attainment wads 15% above the target of Pertamina [Persero] of 1256 MMCFD. By maintaining this level of production, both Pertamina EP and Pertamina [Persero] were optimistic about surpassing target of 2009.

Pertamina was the biggest gas producer for domestic needs. Of the total output, 28% were pipelined to The State Gas Company [PGN] 28% for industrial need, 18% for fertilizer industry, 18% for electric powerhouses and 14% for Pertamina plants and company’s own needs.

Pertamina’s oil production had been increasing since 2003 with average growth [Capital Average Gross Ratio/CSGR] 3.1% of level production of 95.6 thousand barrel per day [MBOPD] in 2003 to become 102.2 MBOPD in 2006. This production reached 6.7% growth in 2007 to become 110.3 MBOPD and had increased again in 2008. Average production output of Pertamina EP in 2008 reached 116.6 MBOPD. In 2009 Pertamina EP lifted up production target of oil production by 6.2% with production target of 125.5 MBOPD.

Pertamina EP was a subsidiary company of Pertamina [Persero] which operated in the exploration and exploitation of oil & gas in Indonesia was recorded as the biggest contributor of profit among all business units in the Pertamina [Persero] group.

The total profit of Pertamina EP kept increasing year after year in 2006 profit before tax of Pertamina EP aw Rp. 11.29 trillion, in 2007 it went up to Rp. 15.16 trillion and scored the highest profit in 2008 i.e. Rp. 19.08 trillion or more than 70% of total profit of Pertamina [Persero].
Pertamina EP was also the only producer of oil-gas in Indonesia which was optimistic about increasing the production of crude oil. Based on data of BPMIGAS, today Pertamina was in second position of oil producer in top ten ranking after Chevron and also in number 2 position of gas producer after Total Indonesia.

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