Pertamina's upstream director Dharmawan Samsu. (B1 Photo/Primus Dorimulu)
Pertamina’s Foreign Oil Fields Produce 100,000 BOPD
BY :PRIMUS DORIMULU
DECEMBER 20, 2019
Paris. State-run oil company Pertamina’s global operations managed to produce 100,000 barrels of oil per day, as the hunt for new fields continues to boost the production to 350,000 BOPD by 2026, an executive said on Thursday.
Pertamina operates oil fields in 13 foreign countries in collaboration with several multinational companies.
"Indonesia’s crude oil consumption is already over twice the size of production. We must expand globally because not much crude oil reserve is found at home," Pertamina’s upstream director Dharmawan Samsu told a group of Indonesian media during a visit to Maurel & Prom headquarters in Paris.
Pertamina owns a 70.97 percent stake in Laurel & Prom, a French energy company that operates in seven countries.
Pertamina also runs three oil fields in Algeria to supply 24,000 BOPD for further processing in Indonesian refineries. Located in the Sahara Desert, the Menzel Lejmet North (MLN) oil fields are run together with Spain’s oil giant Repsol. Pertamina has a 70 percent stake in MLN, while Repsol owns the rest.
Since May 2014, Pertamina has become a full-time operator in the Algerian fields. A fourth oil field is being developed in the area with an investment of $180 million. Pertamina expects to run the new field in April 2020, Dharmawan said.
Moreover, Pertamina is also in negotiations with the Algerian government to develop the MLN 2 area together with local oil company Sonatrach, he said.
Pertamina’s biggest foreign crude oil source remains Iraq, which supplies 60,000 BOPD, Dharmawan said.
Crude oil from the global fields accounts for nearly a quarter of Pertamina’s total production of 414,000 BOPD. Dharmawan said global expansion was a necessity at a time when no new reserve was found at home.
“It doesn’t necessarily mean that we stay loose with the [domestic] explorations,” he said.
The global expansions are conducted through merger, acquisition or participating interest agreement, he said.