PT Pertamina (Persero), a State-Owned Enterprises in the integrated
energy sector, projects of oil and gas reserve ratio or the Reserve
Replacement Ratio (RRR) to grow 200-400% per year to meet national
energy needs.Natural production decline (decline) and the drop in world oil prices pose the greatest challenges Pertamina today.Bambang
Manumayoso, Governance Team Leader (Transformation) Upstream Pertamina
said various efforts were made, not only to survive today, but also how
can still grow in the future. This is done because Pertamina is an arm of government must secure the national energy."Pertamina is Indonesian Flag Carrier. Pertamina, which according to
the law, the only one who should maintain national energy security, both
oil and gas and geothermal," said Bambang in Jakarta, Tuesday
(16/08/2016).According to him, the efforts made by Pertamina today is the fall in production by using appropriate technology. In addition, Pertamina must also continue to explore to replace or add to reserves that had been produced."Pertamina's upstream strategy, namely how the production and Reserve
Replacement Ratio (RRR) of oil and gas should go up, so the reserves
that have been produced can be replaced with a new, higher reserves,"
said Bambang, who is also the Director of Development of PT Pertamina
Hulu Energi.Pertamina projects of oil and gas production growth of 8% per year during 2015-2030. In the 2010-2015 period, the performance of the company's oil and gas
production grew an average 6% per year with an average oil and gas
reserves increased by 4.4% per year.Bambang said the other keywords to withstand the impact of falling oil prices is the cost of production per barrel. If in August 2014, the oil price was around US $ 70 per barrel, in
February 2016 the price dropped to US $ 26 to US $ 27 per barrel."Pertamina has a big challenge. But with the efforts undertaken by
Pertamina can still survive, although profits are also declining," he
said.Therefore, said Bambang, who do Pertamina is to change the old
paradigm that tends to 'Production at any Cost' to Creating More Values
(Production and Value of Investment) of all its assets.According
to him, Pertamina continues to make the process of differentiation of
all its assets, by using clustering of assets and asset portfolios so
that it looks where that can provide the greatest value to the lowest
impact. The gradation of each asset will be evaluated various attempts to do to be able to give a positive value for the company.Currently, the new business paradigm Pertamina upstream models continue to be intensified. Operationally
such as, improved performance both in terms of volume and value,
optimization of investment (Capex), undertake concrete actions for
growth (especially Business Portfolio), implementation of the
Operational Excellent on each of the projects have major implications
for Pertamina, housekeeping sustainable business processes and
development HR.Efficiency and rationalization programs are also being conducted, by lowering the cost per barrel. If the first few assets with operating cost over US $ 30 per barrel, it could be suppressed to below US $ 20 per barrel."Average has dropped all. Of that much we can a lot lower. So the reduced operational costs," he concluded.
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