Oil And Gas

Increasing domestic production to reduce imports

Oil And Gas

OIL WELL RECOVERY

 

PT. Penta Rekamitra Sedaya was established to invest in oil and gas industry. We started from the 'entry level' of the industry's exploration business, namely oil well recovery. The business is restarting the production of old oil well that have been long abandoned before 1945. There are currently well over 13,000 old oil wells all over Indonesia that are being offered by Pertamina at the moment to increase their domestic oil production. This is also key to reduce our expensive oil imports that we still depend on every year since the domestic oil consumption keeps increasing.

The oil well is created by drilling a long hole into the earth with an oil rig. A steel pipe (casing) is placed in the hole, to provide structural integrity to the newly drilled well bore. Holes are then made in the base of the well to enable oil to pass into the bore. We started this project in Bojonegoro, East Jawa, where we have a concession of old oil well clusters. We are working together with the local people, through local KUDs (Koperasi Unit Desa), which is in cooperation with Pertamina. Our production rate is 10,000 liters per day per oil well, and delivered daily to Pertamina's refinery facility at Cepu, East Jawa. We are now managing 8 oil wells and we are targeting to manage 50 oil wells in the next 3 years.

 

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