Indonesia’s Upstream Ambitions Surge as PHE Oil and Gas Output Tops 1 Million BOEPD
Main Takeaways
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JAKARTA, investortrust.id — Indonesia’s state-run upstream oil and gas firm PT Pertamina Hulu Energi has surpassed one million barrels of oil equivalent per day in production, signaling a major step toward the country’s long-standing ambition for energy self-sufficiency.
The company, a subholding of PT Pertamina Persero focused on upstream operations, recorded oil and gas output of 1.043 million barrels of oil equivalent per day (BOEPD) in the first quarter of 2025. This comprised 550,000 barrels of oil per day and 2.8 billion standard cubic feet of natural gas per day. The volume edged slightly higher than the 1.042 million BOEPD reported in the same period last year.
Speaking in a podcast hosted by Investortrust Chief Executive Officer Primus Dorimulu, Corporate Secretary of Pertamina Hulu Energi Arya Dwi Paramita said the achievement reaffirms the company’s role in supporting Indonesia’s energy independence.
“To achieve our ultimate vision of energy self-sufficiency, we must strengthen our energy sector. That’s our shared commitment,” said Arya during the "Podcast Konvergensi" session held in Jakarta on Wednesday, May 7, 2025.
Arya emphasized that with global energy demand on the rise and fossil fuels being finite, PHE has focused on optimizing production from existing assets while intensifying exploration efforts to unlock new reserves.
“There’s always room for improvement in every operation. Boosting output starts with enhancing current fields and is elevated by discovering and developing new reserves,” she said.
She noted that one of PHE’s major successes has been its ability to slow the natural decline rate in oil production. Maintaining current oil output at 550,000 barrels per day reflects the company's success in managing mature fields more efficiently.
“The fact we’re maintaining that level of production shows that our optimization strategy is working. To go even further, we rely on new discoveries and developments,” Arya added.
Arya expressed confidence in sustained growth, pointing to the vast untapped reserves across Indonesia’s territory. “What matters most is gaining access to resource-rich areas and being able to begin operations there,” she said.
Through March 2025, PHE completed the drilling of five exploration wells, 206 development wells, 248 workover wells, and conducted well services on 9,207 wells. These figures represent a notable increase from the same period last year, when the company drilled three exploration wells, 163 development wells, 219 workovers, and carried out 8,323 well services.
PHE also conducted 3D seismic surveys covering 373 square kilometers during the first quarter.
In terms of resources, the company added 42.75 million barrels of oil equivalent (MMBOE) in 2C contingent resources, including 28.19 million barrels of oil and 84.33 billion standard cubic feet (BSCF) of gas.
In addition, PHE successfully confirmed 12.41 million BOE of proven reserves (P1), comprising 3.5 million barrels of oil and 51.62 BSCF of gas.