Pertamina Hulu Energi (PHE) Targets Giant Oil and Gas Block in Eastern Indonesia

OIL AND GAS-LOMBOK. PT Pertamina Hulu Energi (PHE) has secured one oil and gas working area (WK) with jumbo reserves in Eastern Indonesia. Unfortunately, Pertamina is still keeping the name and details of the oil and gas block a secret. 

“There is one (oil and gas block) that we will announce its name in the near future, in March. We are targeting this because it has the potential to be a big fish, giant discovery in Eastern Indonesia,” said the Director of Exploration of PT Pertamina Hulu Energi (PHE), Muharram Jaya Panguriseng at the Media Gathering 2024 in Mandalika, Tuesday (6/2). 

He acknowledged that several investors who knew that Pertamina would enter this oil and gas block also expressed interest in joining. 

In essence, the search for giant oil and gas fields in Eastern Indonesia is one of Pertamina's exploration strategies.  Muharram explained that there are many basins in Indonesia, of which only 20% have been explored and 10% of them have been drilled. 

“So our potential is still very large,” said Muharram. 

So far, PHE has conducted evaluations in several areas of Eastern Indonesia, namely around Seram Island, Bone Bay, and Aru. “There we conducted quite intensive exploration,” he explained. 

All of these potentials will be evaluated, then a ranking will be made of which is the most potential, and then it will be proposed to the government. 

Previously, the Head of SKK Migas, Dwi Soetjipto stated, based on joint mapping and analyzed data, Indonesia has large oil reserves in Eastern Indonesia, especially on Warim Island and Seram Island. 

“In the long term, of course there is exploration, there were 5 potentials and the two largest ones in Seram and Warim will be taken seriously,” he explained when met at the DPR RI Building, Wednesday (1/2/2023). 

Dwi revealed that if this area can be developed, it can contribute to the increase in national oil and gas production. The potential oil on Seram Island alone, for example, is projected to reach twice the current oil reserves, which are only 2.3 billion barrels per day.