PGEO Reports Update on Drilling at Five Geothermal Wells

Jakarta, CNBC Indonesia – Geothermal energy company PT Pertamina Geothermal Energy Tbk (PGEO) said it had drilled five wells across three operating areas during 2026.

PGEO President Director Ahmad Yani said the work comprised both exploration drilling and make-up wells. Exploration drilling at well GTG-B.1 was completed on 9 June 2026 at the Gunung Tiga project.

At Lumut Balai, drilling of make-up well LMB 19-3 was completed on 3 September 2026. Drilling of well LMB-19.4 began on 17 September 2026, with a target depth of 2,500 metres. It is part of the development of Lumut Balai Unit 3, which is targeted to have a capacity of 55 megawatts (MW).

In the Ulubelu area of Tanggamus, Lampung, drilling of make-up well UBL-T.1 began on 17 September 2026. In the Lahendong area of North Sulawesi, drilling of well TPS-P1.2 in Tompaso began on 22 September 2026, with a target depth of about 2,300 metres and estimated potential of around 8 MW.

“Drilling is one of PGE’s concrete steps to develop the use of geothermal energy, both to unlock new capacity potential and to optimise assets already in operation,” the company said in a disclosure to the Indonesia Stock Exchange on Monday, 12 October 2026.

PGEO is also seeking to maintain the reliability of its operating geothermal assets through various measures, including drilling make-up wells to support production.

PGE Exploration and Development Director Edwil Suzandi said exploration and make-up well drilling created opportunities to find and develop new geothermal resources. Make-up wells, meanwhile, help maintain steam availability and support the reliable operation of existing power plants.

“These two approaches form part of Reservoir & Drilling Management, aimed at optimising the sustainable use of geothermal resources,” Edwil said.

Following the announcement, PGEO shares fell 1.01% to Rp980 at 3.29pm. Its market capitalisation stood at Rp41.32 trillion.