Indonesia's state-owned energy company Pertamina expects an oil and gas production of 1,047 mboe/d (153,000 toe/d) in 2022, up 17% year on year. Until the end of May 2022, Pertamina's oil and gas production has reached 966 mboe/d (146,000 toe/d), i.e., a 8% increase compared to 2021.
For the full year of 2022, the company expects to drill 813 development wells, a threefold increase of compared to 2021, and 29 exploration wells, also a threefold increase year on year. Other efforts to optimise upstream performance in 2022 include carrying out reactivation of suspended wells and study the exploration potential of the Manpatu-01 gas discovery in Mahakam, and the Sungai Gelam Timur-01 oil find in Jambi.
In June 2022, Pertamina released its results for 2021, posting a total revenue of US$57.5bn (+39% compared to 2020) and a profit of US$2.2bn. The company extracted 445 mb/d of oil and 27 bcm of natural gas, and produced 256 mb/d of refined products (+3%). Finally, the company’s steam and electricity production from geothermal reached 4.6 TWh in 2021 (+1% compared to 2020).