New Treasure! Oil and Gas Reserves Found in the Java Sea

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Oil and gas reserves have been found in Indonesia again. Most recently, Sub holding Upstream through PT Pertamina Hulu Energi Offshore North West Java (PHE ONWJ) managed to find treasure in the form of oil and gas reserves from drilling the GQX-1 exploration well in the North Java waters.

This well was successful in discovering oil and gas through the Drill Stem Test (DST) #1 which was conducted in a shallow marine sandstone reservoir of the Main Formation.

The GQX-1 exploration well is located approximately 17 km from the existing MM field production facility.

Director of Exploration of PT Pertamina Hulu Energi (PHE) – Subholding Upstream, Medy Kurniawan explained that the GQX-1 well which was drilled at the end of April 2022 reached a final depth of 2958 feet Measured Depth (ftMD) in the middle of May 2022.

“From the results of the First Layer Content Test, the gas flow rate is 3.6 million standard cubic feet of gas per day (MMSCFD) and 108 barrels of oil per day (BOPD). Next, the Second Layer Content Test/DST#2 will be carried out at intervals of 2494-24. 2519 ftMD in the MR-26 layer,” he said in a written statement quoted on Friday (3/6/2022).

The treasure discovery of the GQX-1 well complements the successful discovery of previous reserves in 2022, namely Sungai Gelam Timur-1 (SGET-1) wells in Jambi, Manpatu-1X in Mahakam, and Wilela-001 in South Sumatra.

In 2021, Upstream Subholding succeeded in drilling 12 exploration wells. In 2022, Upstream Subholding seeks to improve performance through an aggressive exploration well drilling work plan of 29 wells, or 242% compared to the realization in 2021.

Medy revealed that in the exploration strategy, Subholding Upstream has three main initiatives. The three main strategies include, among others, the existing Working Area (WK) assets where exploration contributions are needed to maintain and increase existing oil and gas production.

Furthermore, the New Ventures strategy is where Pertamina’s Upstream Subholding seeks new exploration potential. Lastly, the partnership strategy for risk & cost sharing as well as technology & knowledge transfer through accelerated domestic and international collaboration and joint bidding processes.

It is known that Indonesia does have abundant natural wealth. This is proven by the continued discovery of new “treasures” such as the discovery of oil and gas sources, the discovery of rare earth, and the discovery of new minerals.