Developing Complex Reservoirs, Pertamina and Apache Discuss Global Collaboration Opportunities
PT Pertamina (Persero) has held strategic discussions with Apache Corporation regarding opportunities for developing upstream oil and gas operations, with a focus on strengthening collaboration in the development of conventional and unconventional reservoirs to support an increase in national oil production.
The meeting was attended by Deputy Director Oki Muraza of PT Pertamina (Persero), Senior Vice President Scott Grandt of U.S. Assets & Corporate Development at Apache Corporation, and their respective management teams.
The discussions covered various cooperation opportunities, ranging from the development of upstream oil and gas assets in Indonesia, potential international collaborations, to exploring Apache’s investment interests and exploration opportunities in Indonesia.
One of the main topics of attention was the development of low-quality reservoirs through the application of Enhanced Oil Recovery (EOR) and Multi-Stage Fracturing (MSF) technologies. These technologies are considered to have potential in supporting the optimisation of national oil and gas field production, particularly for reservoirs with more complex characteristics.
In addition, both companies explored the potential for developing unconventional reservoirs, which are seen as having promising prospects amid the current dynamics of energy economics and global supply chain developments.
Pertamina emphasised the importance of building a competitive unconventional oil and gas development ecosystem, supported by attractive fiscal schemes, regulatory certainty, strengthened supply chains, and collaboration with global strategic partners that possess technical and operational expertise.
Pertamina also opened opportunities for partnerships on its domestic oil and gas assets, while exploring potential collaborations on international assets. The discussions also included strengthening merger and acquisition (M&A) strategies to bolster the portfolio and support global upstream oil and gas business growth.
Currently, Pertamina has a growing international portfolio, including overseas operations with production of around 200,000 barrels of oil per day (KBOPD). In addition, Pertamina is strengthening its participation in several strategic global and domestic projects, including plans for developing the Kutai Basin working area with Eni S.p.A., as well as the Abadi Masela Field development with INPEX Corporation and Petronas.
Apache stated that its current international strategy focuses on growing assets that can deliver sustainable value creation through an organic approach. Apache has experience in managing conventional onshore oil and gas assets in Egypt and developing operations in the Permian Basin region, United States.