JAKARTA - PT Pertamina Geothermal Tbk (PGEO) and PT Pembangunan Aceh (Pema) are targeting the geothermal drilling in Work Area of Seulawah Agam, Aceh Besar, to kick off in 2025. The project is currently under land acquisition process.

Edwin Suzandi, Director of Exploration and Development of PGEO, reaffirmed the commitment to the accomplishment of Seulawah Agam project.

“The drilling location around Seulawah Agam Mountain is designed to be accessible through the road in order to support logistic and operational activities,” Suzandi said, as quoted Wednesday (18/12).

According to initial geoscience survey, Seulawah Agam has great geothermal potential of up to 320 megawatts (MW). The geoscience survey took place from 2017 to 2019, followed by geohazard mapping in 2020-2021, and conceptual remodelling in 2022-2024.

Safrizal, Acting Governor of Aceh, said that the Aceh government is also committed to supporting several strategic measures whilst still prioritising the people and environment.

“The Seulawah Agam geothermal development is a vital part in the attempt to leverage natural resource potential in order to create sustainable development,” Safrizal said.

On the other hand, the drilling contract in Seulawah Agam between PGEO and Pema is expected to boost the stock performance of PGEO, as well. Earlier today (18/12) the price was at IDR 925 per share, a slight slippage from IDR 965 per share last week (12/12). (LK/ZH)