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JAKARTA -- Pertamina of Indonesia through Pertamina Upstream Subholding, PT Pertamina EP (PEP) Java region, discovered oil reserves capable of producing 402 barrels of oil per day and 1.09 MMSCFD of gas in Bekasi Regency. The discovery of these new reserves is the result of exploration carried out by the company throughout this year.

Pertamina EP President Director Wisnu Hindadari said that Pertamina consistently carries out exploration to ensure the Reserve to Production Ratio is maintained from year to year. The discovery of these reserves is also an important part of the government's program in the national energy sector to achieve the gas production target of 12 billion standard cubic feet per day (BSCFD) and oil production of 1 million barrels per day by 2030.

VP Explorations Pertamina EP Indra Yuliandri explained that the company is actively carrying out exploration to maintain national oil and gas production. One of the results of this exploration was the discovery of reserves in the Tambun field, the East Pondok Aren (EPN)-001 exploration well.

This oil and gas discovery is a manifestation of the company's massive and aggressive implementation of its exploration strategy. The drilling of the EPN-001 well also serves as proof of a new concept in the form of a stratigraphic trap in the Lower Cibulakan Formation, Ciputat Sub-Basin.

Pertamina projects domestic crude oil production until the end of 2023 at the level of 417,000 barrels per day, no different from the realization throughout 2022. Meanwhile, the outlook for domestic oil production at the end of this year is much lower than the production target in the 2023 Work and Budget Plan (RKAP) pegged at 442,000 bopd.

Overall, the oil production target in the 2023 RKAP is set at 595,000 bopd, assuming additional production from foreign assets of 139,000 bopd.

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