Achieving Energy Self-Sufficiency: PHE Discovers New Oil Reserves in South Sumatra

Jakarta, December 23, 2024 – PT Pertamina Hulu Energi (PHE), as Pertamina’s Upstream Sub-holding, proudly announces the discovery of new oil reserves in South Sumatra. This discovery results from intensive exploration efforts conducted over recent months. It marks a significant milestone in PHE's mission to increase national oil reserves and support the government's energy self-sufficiency goals outlined in the eight Asta Cita programs.  

The discovery is located in the Padang Pancuran structure, which is administratively situated in South Sumatra. PHE is currently evaluating the volumetric scale of the findings. The structure was identified through the PPC-1 well, drilled to a depth of 3,750 feet (approximately 1,143 meters). Initial results indicate significant production potential. A flow test at a 64/64-inch choke revealed oil flowing at a rate of 2,040 barrels of oil per day (BOPD) with associated gas measured at less than 0.1 million standard cubic feet per day (MMSCFD).  

With this discovery in South Sumatra, the total recoverable resources (RR) of oil and gas ready for production by Pertamina's Upstream Sub-holding in 2024 amount to 143 million barrels of oil (MMBO) and 1.7 trillion cubic feet of gas (TCF).  

“This success is a testament to the dedication and hard work of our exploration team, as well as our close collaboration with SKK Migas and the Ministry of Energy and Mineral Resources (ESDM). We hope that the Padang Pancuran structure can soon be developed and put into production, contributing to national oil lifting and realizing the vision of energy self-sufficiency,” said Chalid Said Salim, President Director of PHE.  

Chalid further explained that the discovery not only has a positive impact on national economic growth but also aims to bring social benefits to the surrounding community by creating job opportunities and developing infrastructure.  

PHE remains committed to investing in upstream oil and gas operations management that follows Environmental, Social, and Governance (ESG) principles. The company also upholds a Zero Tolerance for Bribery policy by ensuring fraud prevention measures and maintaining a corruption-free environment. This is achieved through by ISO 37001:2016-certified Anti-Bribery Management System (SMAP) implementation. PHE continues to develop prudent and excellent operational management domestically and internationally to achieve its goal of becoming a world-class oil and gas company that is environmentally friendly, socially responsible, and governed with integrity.  

Vice President of Corporate Communication of PT Pertamina (Persero) added that Pertamina continues to focus on increasing upstream production and discovering new reserves to ensure the future of national energy security.

“Pertamina’s role in achieving energy self-sufficiency drives us to continue making breakthroughs in energy planning, both through oil and gas resources and by building a sustainable energy business with renewable energy,” concluded Fadjar.

Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social & Governance (ESG) implementation across all Pertamina's business lines and operations.**