PHE Maintains Oil and Gas Production Levels Amid New Discoveries

PT Pertamina Hulu Energi (PHE), Indonesia's upstream oil and gas subsidiary, has announced a production level of 935,000 barrels of oil equivalent per day (MBOEPD) for the first half of 2026. This figure includes an oil production of 459,000 barrels per day (MBOPD) and gas production of 2,756 million cubic feet per day (MMSCFD), as reported by Detik Finance.

According to Hermansyah Y Nasroen, Corporate Secretary of PHE, the company's operational performance has remained stable, supported by various development and maintenance programs. Between January and June 2026, PHE completed the drilling of 278 exploitation wells, conducted 601 workover activities, and performed 13,870 well service operations to ensure asset reliability and maintain production levels.

“The operational performance until the first semester of 2026 reflects the commitment of all PHE personnel in conducting upstream oil and gas operations safely, reliably, efficiently, and sustainably.”Hermansyah Y Nasroen, Corporate Secretary, PT Pertamina Hulu Energi

In terms of exploration, PHE has intensified its search for new oil and gas resources, completing the drilling of nine exploration wells and conducting extensive seismic surveys. These efforts have resulted in the discovery of contingent resources (2C) amounting to 108 million barrels of oil equivalent (MMBOE) and an increase in proven reserves (P1) of 24.9 MMBOE.

Hermansyah stated in a press release that the operational performance until the first semester of 2026 reflects the commitment of all PHE personnel in conducting upstream oil and gas operations safely, reliably, efficiently, and sustainably. He emphasized that these achievements lay a solid foundation for completing the company’s work programs for the year.

“PHE’s focus on exploration and production sustainability is crucial for Indonesia's energy security.”Analysts at Mandiri Sekuritas

To further enhance its operations, PHE plans to optimize asset management through accelerated drilling programs, the application of advanced technologies, and improved operational efficiency. This approach aims to provide sustainable value for both the company and the national energy sector.

Analysts at Mandiri Sekuritas noted that PHE’s focus on exploration and production sustainability is crucial for Indonesia's energy security.