OTC 2015: Pertamina Hulu Energi to Appoint New Head by May's End

Pertamina Hulu Energi to Appoint New Head by May's End
Indonesia's Pertamina Hulu Energi will appoint a successor to former President Director Ignatius Tenny Wibowo by the end of May as the latter has joined Australia's Santos as head of its local unit.

Indonesia's Pertamina Hulu Energi (PHE), an upstream arm of national oil company PT Pertamina, will name the successor to former President Director Ignatius Tenny Wibowo by the end of May, a company source told Rigzone Monday on the sidelines of the Offshore Technology Conference in Houston.

"We will name the new Pesident Director before the end of the month," A. Alfian Husein, General Manager, PHE Nunukan Company said when asked for an update on the position, which has been vacant since Wibowo left March 31.

Industry sources said the former chief of Pertamina Hulu is now working as head of the Indonesian unit of Australia's upstream company Santos Ltd.

"As of April 1, I will be working as a President of a multi-national oil and gas company in Indonesia," Wibowo told Rigzone earlier in an email.

Two major upstream assets operated by Pertamina HE are the West Madura Offshore (WMO) Production Sharing Contract (PSC) offshore East Java and Offshore North West Java (ONWJ) PSC.

As reported earlier, the Indonesian company plans to press on with three new phased developments at WMO and ONWJ PSCs in the country despite deteriorating project economics as oil prices dipped below $50 a barrel in early 2015. 

Former OPEC member Indonesia intends to raise the country's oil production to 825,000 barrels per day for 2015, up from 794,000 barrels per day last year.

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