PERTAMINA EP |

Pertamina EP oil production on the end of May 2009 reached the highest level of 127.7 thousand barrel per day (MBOPD) or 2,245 barrel higher than the target of 125,5 MBOPD. It is the highest production that has ever been made by Pertamina EP and also part of the effort of transformation program.

PT Pertamina (Persero) as the holding company and BPMIGAS as the Executive Agency for Upstream Oil and Gas Activity are supporting Pertamina EP transformation program to develop world class capabilities in increasing the domestic oil production.

The percentage of Pertamina EP oil production increase is achieved by Pertamina EP Eastern Indonesia Region up to 116% over the target with its total production of 5,567 barrel per day, Limau Business Unit up to 110% above the target with its total production 11,210 barrel per day, and also other business units and regions have successfully maintain the production at the highest level. Pertamina EP Java Region also succeeded in maintaining 25.281 barel per day, Sumatera Region produces 17,542 barrel per day and also Sukowati field produces 22,986 barrel per day. It is also supported by 8,256 barrel per day produced from Poleng, Madura.

Pertamina EP oil production continue to increase since 2003 with the capital average gross ratio (CAGR) 3,1% from the production level of 95,6 thousand barrel per day (MBOPD) in 2003 increased up to102.2 MBOPD in 2006. The production grow around 6.7% in 2007 and inceased up to 110.3 MBOPD. While in 2008 the production rised up to 116,6 MBOPD. In 2009 Pertamina EP targeted the oil production growth around 6.2% with its target 125.5 MBOPD.

Meanwhile for gas production, Pertamina EP has reached 1,033 million standard cubic feet per day, which is the biggest gas production for domestic needs. From that amount, 28% is supplied to National Gas Company (PGN), 22% is supplied for industrial needs, 18% for fertilizer industry, 18% is supplied to power plant, and 14% for Pertamina refinery and other own use.

As a subsidiary of Pertamina, Pertamina EP carries out the upstream oil and gas activities in Indonesia that covers exploration, exploitation, and the sales of oil and gas produced from its fields.Pertamina EP is also the value creator for its holding company. Pertamina EP profit before tax is increasing. In 2006, the profit is Rp. 11.29 trillion, in 2007 is Rp 15.16 Trillion, and in 2008 is Rp 19.08 Trillion. It contributes more than 70% of its holding’s total profit.

Pertamina EP is optimist to be able to increase its oil and gas production. Based on the facts, at present, Pertamina EP is the second biggest oil producer after Chevron and the second biggest gas producer after Total Indonesia.