Pertamina and Apache Discuss Collaboration Opportunities to Boost Oil Production through Reservoir Development

PT Pertamina (Persero) conducted strategic discussions with Apache Corporation regarding opportunities for collaboration in the development of upstream oil and gas operations. The discussions, held in Houston, Texas, United States, focused on strengthening collaboration in the development of conventional and unconventional reservoirs to support an increase in national oil production. The meeting was attended by Pertamina’s Deputy Director Oki Muraza, Apache Corporation’s Senior Vice President (SVP) of US Assets & Corporate Development Scott Grandt, and their respective management teams. During the meeting, both parties discussed various collaboration opportunities, ranging from the development of upstream oil and gas assets in Indonesia, international collaborations, to exploring Apache’s investments and exploration in Indonesia. These technologies are considered capable of optimising national oil and gas field production, particularly in reservoirs with more complex characteristics. Both companies also explored the development of unconventional reservoirs, which are seen to have promising prospects amid the dynamics of the energy industry and global supply chain developments. In the discussions, Pertamina emphasised the importance of building a competitive non-conventional oil and gas ecosystem through support for attractive fiscal schemes, regulatory certainty, strengthening the supply chain, and partnerships with global companies that possess technical and operational experience. Additionally, the discussions covered strengthening merger and acquisition (M&A) strategies to bolster portfolios and support the growth of upstream oil and gas businesses globally. Currently, Pertamina has an expanding international portfolio with overseas production reaching around 200,000 barrels of oil per day (BOPD). The company is also strengthening its participation in several strategic global and domestic projects, including the development of working areas in the Kutai Basin with Eni SpA and the Abadi Masela Field with INPEX Corporation and Petronas. For information, Apache has experience in managing conventional onshore oil and gas assets in Egypt as well as developing operations in the Permian Basin region, United States. Meanwhile, Pertamina has begun drilling using the MSF approach as part of accelerating the increase in conventional oil and gas production in Indonesia. The company is also preparing to conduct horizontal appraisal well drilling for non-conventional oil and gas. The exploration of collaboration with Apache is part of Pertamina’s commitment to supporting the government’s Asta Cita agenda, particularly to strengthen national energy resilience through increased oil and gas production, technological strengthening, and expansion of global strategic partnerships to ensure the sustainability of energy supplies in the future.