Muhammad Hendartyo, Jakarta – State-energy firm Pertamina on Monday announced that its Sumatra upstream subholding successfully discovered a new oil reserve within the Jambi field located at the Muaro Jambi Regency.
The exploration well is touted as the SGET-001 was discovered near two of Pertamina's facilities, which is roughly 8 kilometers from an existing production facility, SP GS-02, and 14 kilometers from the SP Ketaling production facility.
According to the company's latest press statement, there is 434 barrel oil per day (BOPD) and 0.18 million standard cubic feet per day (MMSCFD) in the new well.
"All of these efforts are our commitment in increasing oil and gas reserves and production in Sumatra and supporting the achievement of the national oil and gas production goal," said president director of Pertamina Rokan block Jafree Arizon Suardin.
He claims the finding of the latest oil well reserve is considered an achievement as the project was completed faster than it was expected and below the expected costs the company has set.