State-owned oil and gas giant Pertamina has successfully demonstrated its capability for operating the Rokan Block, Riau, which it acquired last year, with the block currently contributing 25 percent to the national oil output, an expert has said.
“We need to laud this achievement because it proves Pertamina’s capability, including on the production strategy aspect, as equal to the previous Rokan Block operator, Chevron. The production expansion and oil well recovery strategies have shown a good outcome,” Research Data Indonesia Head Herry Gunawan stated in Jakarta on Tuesday.
Oil company Pertamina’s success in Rokan Block, which is currently being operated by its subsidiary PT Pertamina Hulu Rokan, brings new hope for Indonesia’s economy and to efforts towards achieving national trade balance, the expert added.
“Pertamina’s success in Rokan Block is important amidst the current oil deficit. Production at Rokan Block could also relieve the burden to maintain our balance of trade,” Gunawan remarked.
The high oil production in Rokan Block implies the potential for increasing state revenue through taxation and profit-sharing schemes, he added.
The expert also highlighted that Rokan Block will be key for achieving the national production target of one million barrels of oil per day by 2030.
Besides being advantageous for the national economy, the positive performance will also augment Pertamina’s corporate performance and open new jobs for the people, he said.
“That is why strategic measures taken by Pertamina in the largest oil block in Indonesia must be supported by all,” Gunawan added.
Earlier, House of Representatives (DPR RI) Commission VII legislator Dyah Roro Esti also lauded Pertamina’s positive performance as essential to achieving the 2030 production target.
The legislator expressed the hope that other gas and oil companies operating in Indonesia would be motivated by Pertamina’s performance.
Source: Antara News