Pertamina Subholding Increases Production, Improves Business Development

TEMPO.CO, Jakarta - Pertamina upstream sub-holding, PT Pertamina Hulu Energi (PHE), continues to improve the unlock value activities. Such as by increasing oil and gas production, global expansion, acquisition, and new business development studies of CCS/CCUS to maximize asset value and increase production. 

"The strategies are being conducted to support the national target production of crude oil of 1 million barrels per day (bpd) and 12 billion standard cubic feet of gas per day (bscfd) in 2030 aiming to maintain national energy security," Pertamina VP Corporate Communication Fadjar Djoko Santoso said in a written statement received on Saturday, July 29.

Fadjar said that the unlock value strategies were supported by the strong fundamental condition of PHE. According to him, PHE is fundamentally in good condition, proven by positive performance in 2022 for the contribution of oil and gas production growth of 7 percent compared to the previous year.

In addition, the company managed to collect profit amounting to US$4.67 billion. "This is one of the proofs of Pertamina's successful transformation in the oil and gas sector," he said. PHE also reached an 85.05 score in the GCG assessment in the 2022 fiscal year.

Pertamina Hulu Energi also got an ESG rating of 31.2 or ranked 13th of 143 oil and gas companies worldwide. 

“The positive impact of PHE performance to state revenue in 2022 was US$8.77 billion in tax and non-tax revenues,” Fadjar remarked.

Amy Heppy

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