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Pertamina Drilling upbeat on 2019 performance

JAKARTA (RambuEnergy.com) – PT Pertamina Drilling Services Indonesia (PDSI), a subsidiary of state-owned energy company PT Pertamina, is optimistic that the company would be able to replicate or perform better performance this year compared to last year on improving demand for large-scale projects.

Budhi N. Pangaribuan, PDSI President Director, said the growth is also supported by the establishment of the Indonesia Drilling Training Center (IDTC) that helps improve the company’s human resources’ skills.

Last year, PDSI recorded revenues of US$238 million, slightly higher than the company’s target of US$237 million. In the previous year, the company recorded revenues of US$235 million.

The slow-pace revenue growth was due to a slight decline in rig rental prices. Nevertheless, the company managed to maintain the performance as the company was successful in lifting the utility and productivity of the company’s rigs.

“We manage to maintain our revenues this year (2018) because, among others, we manage to improve the utility and productivity of our rigs and at the same time cut the non-productive time,” he said in a statement.

Last year, PDSI booked a net profit of US$18 million, representing 150% higher than the target.

The company completed the drilling of 319 wells in 2018, consisting of exploration, exploitation, well service and workover wells.

At present, PDSI owns nine units of cyber rigs with a capacity of 1000-1500 HP.

Its cyber rig has completed the side-track operation of Albatros Putih-001 well in Tuban, East Java, Bambu Besar B1 and B2 in West Java and Titanum 001 in Aceh. It has also undertaken type S drilling projects in PEPC ADK, Cepu, East Java.

In addition, the company also managed to optimize non-rig services, such as Top Drive, H2S Monitoring Unit, Horizontal Drilling, Aerated Drilling, Water Pump, Fishing & Milling, Coring and Integrated Project Management.

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