Pertamina to boost exploration activities

Pertamina, Indonesia’s state-owned energy company, aims to boost exploration activities in the nation’s eastern territories to reinforce oil and gas output, Reuters reported.

Henricus Herwin, Senior Vice President of Strategy and Investment, outlined plans for strategic mergers and acquisitions across Africa, the Middle East, and Southeast Asia during a conference in Kuala Lumpur.

Under the leadership of CEO Chalid Said Salim, Pertamina’s upstream subsidiary, Pertamina Hulu Energi (PHE), aims to elevate oil production to 627,000 barrels per day (bpd), a step up from 566,000 bpd recorded in 2023.

Herwin emphasised the critical importance of reinforcing energy self-sufficiency through intensified exploration, particularly in Indonesia’s eastern frontier, alongside strategic mergers and acquisitions.

Moreover, Pertamina is broadening its scope to encompass biofuels, petrochemicals, geothermal energy, and carbon capture and storage. Chalid revealed plans to maintain natural gas output at 2.769 million standard cubic feet per day (mmscfd) in 2024, mirroring the levels seen in 2023. Pertamina Hulu aims to sustain its growth trajectory, targeting a 4-5 per cent rise in total oil and gas output by 2025.