Pertamina: Pursuing 2022 Target, Pertamina Upstream Subholding Pushes Aggressive Breakthrough

PT Pertamina Hulu Energi, as the Upstream Subholding, continues to make various efforts to achieve the company’s vision and mission. With the performance of oil and gas production in 2021 reaching 897 MBOEPD, the oil and gas production target increases to 1,047 MBOEPD this year.

Moreover, Pertamina’s Upstream Subholding also targets additional reserves in 2022 of 755 MMBOE and additional resources of 222 MMBOE.

It was conveyed by the Director of Strategic Planning & Business Development of Pertamina’s Upstream Subholding, Danar Dojoadhi (04/04).

“In 2022, Pertamina’s Upstream Subholding exploration well drilling target is 29 wells, and the development well drilling target is 813 wells,” explained Danar.

Several breakthroughs were also made by Pertamina’s Upstream Subholding to achieve the target. “Digitalization, Optimus (Optimization Upstream Cost) program, implementation of ESG (Environmental, Social, Governance), and several Onstream projects such as Jambaran Tiung Biru, OPLL PHSS, Handil, and Emain Waterflood,” added Danar.

To improve performance and fulfill government regulations, Upstream Subholding mapped priorities according to the direction of the Ministry of SOEs into five priorities.

“The five priorities include Priority for Economic and Social Values for Indonesia, Priority for Business Model Innovation, Priority for Technology Leadership, Priority for Energize Investment, and Priority for Unleash Talent,” explained Danar.

In Priority for Economic and Social Values for Indonesia, Upstream Subholding carries out several programs. Namely, Optimus, ESG Score, and Decarbonization. In the Priority for Business Model Innovation, Pertamina Upstream Subholding made efforts to propose fiscal incentives for PHKT. Priority for Technology Leadership, Pertamina Upstream Subholding realized this through the Crown Jewel Mahakam revitalization program.

Furthermore, Priority for Energize Investment, Pertamina Upstream Subholding carries out several programs, including increasing I/EOR activities through a partnership or independently, structure rejuvenation & reactivation of suspended wells, Upstream Plant Reliability 97.5%, acquisition of domestic and foreign oil and gas operators/blocks, accelerated exploration of 29 wells and unconventional MNK.

Finally, in Priority for Unleash Talent, Pertamina’s Upstream Subholding has a fast-track program for superior talent that is inclusive. 13% of women are nominated for talent, and 26% of millennial workers.

Pertamina’s Upstream Subholding has also compiled 11 material topics in the ESG strategy and the decarbonization strategy implementation to realize environmentally-friendly operations.

Pertamina’s Upstream Subholding continues to integrate collaboration and innovation to promote aggressive synergy growth in 2022, prioritize HSSE and Corporate Life Saving Rules, and integrate ESG into the company’s business processes.

The synergy under Pertamina’s Upstream Subholdingis an added value to increase competitiveness through operational excellence, especially in the upstream oil and gas business. After this one year restructuring, it is also expected to be able to accelerate both existing and new businesses, open up wider opportunities, flexibility, partnerships, and sources of funding,” he stated.