PERTAMINA EP |

Pertamina EP oil production once again reached the highest record in June 18, 2009. The oil production is 130,340 barrel per day or 4,840 barrel higher than the target set in 2009 which is 125,500 barrel per day.

Pertamina EP Operational Director Bagus Sudaryanto said that the increase in oil production has become an evidence that the transformation program in the company is already on the right track. Pertamina EP will focus on maintaining as well as increasing the production growth regarding to the potential natural decline around 18 percent.

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 119% over the target with its total production of 5,951 barrel per day, Limau Business Unit up to 119% above the target with its total production 12,250 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 25.503 barel per day, Sumatera Region produces 18,241 barrel per day and also Sukowati field produces 24,718 barrel per day.

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.

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 grew around 6.7% in 2007 and inceased up to 110.3 MBOPD. While in 2008 the production was risen up to 116,6 MBOPD. In 2009 Pertamina EP targeted the oil production growth around 6.2% with its target 125.5 MBOPD.

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.