Pertamina: 2050, oil demand to reach 1,000 megatons

Jakarta – The need for crude oil in 2050 is predicted to decrease from 32 percent to 20 percent, however, in terms of volume there will be an increase many times over, said a Pertamina official. The forecast refers to the national energy general plan (RUEN) determined by the government.

“This number has increased rapidly from the energy requirement in 2021 of 210 MTOE (megaton oil equivalent). At first I thought that in 2050 the portion would decrease, in percentage terms it would decrease, we will (fulfill) 20 percent (of the total energy needed) by 2050,” said Director of Exploration of Pertamina Hulu Energi (PHE), Muharram Jaya Panguriseng in a recent panel discussion with the Editor of the Energy and Mining Society (E2S).

According to RUEN, energy demand in 2021 is 210 MTOE, of which 11 percent is met from new and renewable energy (NRE), 32 percent from oil as primary energy needs, and 19 percent from gas. “In terms of demand, at that time in 2021 it would be 210 megatons of oil equivalent, so later in 2050 our needs will be 1,000 megatons equivalent,” said Panguriseng.

At the same time, there was also an increase from gas. Pertamina’s target is to meet gas production of 24 percent of the total demand or 440 MTOE in 2050. That means, there is an increase of around 5 percent from the 2021 portion, Panguriseng said.

According to this data, he said, Pertamina must at least meet 44 percent of the oil and gas needs of the total energy needed by Indonesia. This can be done by increasing managed oil and gas exploration and production. Thus, oil and gas will still play a vital role in 2050. The exploration and production process is also in line with the government’s target of producing 1 million barrels of oil per day (BOPD) and 12 MMSCFD of gas in 2030.

“Until now, Subholding Upstream Pertamina has completed 15 exploratory drilling wells and is in the process of drilling 5 wells. This massive and aggressive exploratory well drilling activity has also yielded results in the form of significant resource findings,” said Panguriseng. (Hartatik)

Banner photo: PT Pertamina Hulu Energi (PHE), as Pertamina’s Subholding Upstream, through PT Pertamina Hulu Energi Offshore North West Java (PHE ONW) managed to find oil and gas reserves from drilling the GQX-1 exploration well in North Java waters. (Source: Pertamina)

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