REPUBLIKA.CO.ID, DENAPASAR -- The positive performance of PT Pertamina (Persero) in the 2023 financial year is supported by digitalization transformation and technological research innovation. Through these two breakthroughs, Pertamina was able to post positive performance in almost all business lines.
Pertamina's outstanding performance has received global recognition. One of the most recent, Pertamina is listed as the third largest company in Southeast Asia in the Fortune 500 South East Asia.
In the presence of Editor-in-Chief of Mass Media at the Pertamina 2024 Pemred Gathering event, President Director of PT Pertamina (Persero), Nicke Widyawati revealed that digitalization and technology research are the main keys to increasing Pertamina's performance.
With digitalization, Pertamina can manage business from upstream to downstream in an integrated manner. “We have started using AI to process and analyze data faster so that decision-making can be made accurately,” Nicke said.
In addition, Pertamina also continues to develop research and technology to improve high-value products. Pertamina controls 24 percent of the upstream sector with a contribution to oil production 69 percent and Gas 34 percent. The management of thousands of wells is digitized and already connected downstream.
In 2023, Pertamina Upstream Subholding managed to increase oil and gas production by 8 percent. In addition, Pertamina also continues to increase new oil and gas reserves both from existing oil and gas blocks and new oil and gas blocks.
“It's amazing, to increase oil and gas production, Pertamina drilled as many as 800 new wells. Therefore, 62 percent of Pertamina's investments are made upstream,” Nicke said.
Brilliant performance was also shown in the processing sector, Pertamina Refining & Petrochemical Subholding continues to maintain refinery productivity with a capacity of 1.025 million barrels per day. This performance is remarkable, as throughout 2023 the refinery runs without any unplanned shutdowns (Unplanned Shutdown).
“This is not something sudden, but a five-year-long process that Pertamina has been revamping the refinery,” Nicke said.
Pertamina has also carried out 9 (nine) projects to increase productivity, energy efficiency and increase refinery capacity. Downstream, Nicke added, with the digitization of the Commercial & Trading Subholding Pertamina managed to control the quota of subsidized fuel and LPG and increased the sales of Non-Subsidized Fuel by 2 percent of which is mostly industrial.
“It means this productively encourages the industry to grow better,” Nicke said.
For the freight business, Integrated Marine & Logistic Subholding Pertamina has operated 760 vessels while continuing to expand its International business. Currently, through PIS, Pertamina has 50 international cruise routes. In 2023, the volume transported reached 161 million KL, up 3 percent compared to 2022.
The business development performance by Gas Subholding also showed brilliant results. In 2023, the volume of gas sales reached 337 thousand BBTU, an increase of 3 percent from the previous 327 thousand BBTU.
Nicke added that gas is Pertamina's mainstay in making the energy transition and the development of gas infrastructure will accelerate the energy transition in Indonesia. “The key to the energy transition is in gas because it is an intermediary from fuel to renewable energy,” Nicke said.
Through Power & NRE Subholding, Pertamina also managed to increase clean energy production by 17 percent to 5,452 GWh from 4,659 GWh previously. “Last year PNRE successfully completed a gas project integrated with regasification in Southeast Asia, namely 2 units of Jawa 1 power plant with a capacity of 880 MW each,” Nicke said.
In addition to the positive performance, Pertamina also runs its business processes from upstream to downstream in a more environmentally friendly manner. Pertamina managed to reduce carbon emissions by 34 percent, higher than the government-set target of 31.89 percent. As a result, Pertamina's ESG rating managed to rank one in the world in the Integrated Oil and Gas sub-industry.
Chairman of Pemred Forum Arifin Asydhad expressed his appreciation for Pertamina's performance under skipper Nicke Widyawati. “I appreciate what Mrs. Nicke said regarding Pertamina's outstanding performance,” Arifin said.
Pertamina, as a leader in the field of energy transition, is committed to supporting the Net Zero Emissions 2060 target by continuing to promote programs that directly impact the achievement of the Sustainable Development Goals (SDGs). All of these efforts are in line with the implementation of Environmental, Social and Governance (ESG) across Pertamina's business lines and operations.
