Jakarta (ANTARA) - State-run oil company PT Pertamina Group, as of July, produced 875 thousand barrel of oil equivalent per day (MBOEPD), or some 98 percent of its target set for 2020.
Pertamina's Vice President Corporate Communication, Fajriyah Usman, noted in a statement here on Tuesday that amid the impact of the COVID-19 pandemic on the oil and gas sector, PT Pertamina (Persero) has directed its efforts to achieve the target outlined for operation and production.
In the upstream sector, in spite of the pressure on the business, the company, as of July, had produced 410 MBOPD (thousand barrel of oil per day) and 2,692 million standard cubic feet per day (MMSCFD) of natural gas per day.
Usman pointed out that the global oil and gas upstream industry had borne the acute brunt of the COVID-19 pandemic.
Restriction on outdoor activities in nearly all nations has resulted in a decline in fuel demand. With the abundant supply of fuel oil and crude oil, the price of crude oil has tanked to its lowest level, she expounded.
"The oil and gas company has continued to maintain its production performance. Pertamina has projected this situation. It continues operations, albeit with some adjustments, in terms of the health protocols to fight the COVID-19 pandemic and in terms of its operational aspects," she stated.
Pertamina and its subsidiaries will continue making efforts to achieve the production target to secure the national oil and gas industry.
As of July, Pertamina had completed the exploration of eight wells, exploitation drilling of 182 wells, and workover of 362 wells.
Pertamina has also stepped up its exploration activities, with its subsidiary PT PEP recently discovering new oil and gas reservoirs in the Akasia Prima-1 (AKP-1) well in West Java and the Wolai -002 well in Central Sulawesi.
Despite the shock from the pandemic, Pertamina remains optimistic about conducting its duty to secure energy availability and avoid mass lay-offs by continuing the operation of its upstream working areas and some strategic projects, such as the RDMP Project in Balikpapan, TPPI Aromatic Project, Jambaran Tiung Biru Project, and Jawa-1 gas-generated power plant (PLTG) project.
"We have 1.2 million workers directly involved in Pertamina's business activities. We will continue to employ them, and there will be no mass lay-offs," Usman added.
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