Pertamina EP commited to securing Indonesia's energy demand Pertamina EP commited to securing Indonesia's energy demand just no...
Pertamina EP commited to securing Indonesia's energy demand just now | 36 Views
The Oil and Gas Year interviews president-director of Pertamina EP Nanang Abdul Manaf discussing the company's commitment in securing Indonesia's energy demand (The Oil and Gas Year) Jakarta (Antara) -- On Monday, October 16, 2017, TOGY sat down with Nanang Abdul Manaf, Pertamina EP president-director, to discuss the company’s commitment to increasing production as a means of securing Indonesia’s domestic energy demand. During the course of the interview, president-director Manaf commented on the company’s objective to increase efficiency in its activities while generating profits for its stakeholders. “We aim to boost oil and gas production in the most efficient way, in order to squeeze every drop of oil from the wells,†Manaf stated. While efficiency is high on the company’s priority list, profitability is also of paramount importance given the tumultuous global hydrocarbons industry. “As a business entity, even if we are a state-owned enterprise, we should be able to generate profits and provide dividends to our stakeholder, the Indonesian government,â€
The discussion continued, touching on Indonesia̢۪s need to increase oil production in order to be less exposed and over-reliant on oil and gas imports. The current level of dependency threatens the macro-economic stability and monetary health of the South-East Asian country. Pertamina EP is deploying its capabilities to maintain and increase domestic production. These efforts will likely serve as an e conomic driver for competitiveness in industries dependent on oil and gas for energy supply and feedstock.
Recent statistics show that upstream hydrocarbons investment in Indonesia has continued to decline from USD 15.3 billion in 2015 to USD 11.2 billion in 2016. Despite this, Pertamina EP is still planning an aggressive drilling campaign. During the conversation, president-director Manaf stated the need to intensify exploration activities in order to increase reserves and production. “We are planning to drill 70 development wells and 14 exploration wells in 2018, since we just got our new plan of development,†president-director Manaf said. Exploration investment reached only USD 100 million in 2016 compared to USD 1.4 billion in 2013. However, despite currently attenuate oil prices, Pertamina EP remains resolute in its decision to engage in exploration activities, “We are still aggressive in our exploration campaigns, especially when conducting 3D and 2D seismic surve ys, since exploration relies heavily on seismic data,†president-director Manaf told TOGY.
Towards the end of the interview, president-director Manaf noted that the decline in upstream oil and gas investment has had a direct impact on the slowdown in regional economies, and unemployment. This has been especially true amongst contractors, sub-contractors and the supporting industries. “Our activity should impact economic growth in the regions where we are operating,†president-director Manaf stated.
- Pertamina EP commited to securing Indonesia's energy demand just now
- OVO to accelerate success of Lippo Group's diverse businesses through Deep Business Analytics using Kinetica and NVIDIA technology 5 hours ago
- Bank Islam Malaysia Berhad signs agreement to implement Kamakura Corporation suite of solutions for asset & liabilities management, funds transfer pricing and liquidity management 5 hours ago
- Quality infrastructure deve lopment contributes to Myanmar's sustainable economic growth 7 hours ago
- New name, world of opportunity: DOWSIL̢㢠product brand name announced for heritage Dow Corning high-performance silicone building products 19th October 2017
- Asahi Kasei's Microza̢㢠hollow-fiber membrane selected for desalination plant in Kuwait 18th October 2017
- Axalta focuses on waterborne coatings for sustainable future at the National Polymer Symposium XI in Jakarta, Indonesia 18th October 2017
- Herbalife Nutrition survey reveals APAC consumers concerned about aging-related health issues but underestimate the importance of nutrition in healthy aging 18th October 2017
No comments