Achievements of 2023: Pertamina Successfully Implements the Unlock Value Program for Business Development
Jakarta, June 13, 2024 – Throughout 2023, PT Pertamina (Persero) successfully implemented the Unlock Value program across several sub-holdings and subsidiaries. Unlock Value has become Pertamina's flagship program to enhance subsidiaries’ performance by showcasing their strengths.
"Post-Covid pandemic, 2023 became a momentum for industries worldwide to grow. Through Unlock Value, we encouraged our sub-holdings and subsidiaries to undertake corporate actions to maximize this growth opportunity," explained Vice President of Corporate Communication of Pertamina, Fadjar Djoko Santoso.
Some of the 2023 Unlock Value programs include the initial public offering (IPO) of PT Pertamina Geothermal Energy Tbk on February 25, 2023. This IPO was one of the largest corporate actions on the Indonesia Stock Exchange (IDX) in 2023 and drew international investor attention as PGE promotes clean geothermal energy, in line with global aspirations to address climate crisis challenges.
Additionally, Pertamina, through its Sub-holding Pertamina New and Renewable Energy (PNRE), is ready to become the market leader in carbon trading in Indonesia. This commitment was affirmed by Pertamina during the inaugural launch of the IDX Carbon Exchange in Jakarta by President Joko Widodo on September 26, 2023.
Pertamina also accelerated its energy transition business. One example is the maiden flight test of a commercial aircraft using eco-friendly fuel, namely Sustainable Aviation Fuel (SAF) or BioAvtur. SAF is produced by Kilang Pertamina Internasional and will be commercialized by Pertamina Patra Niaga as the future of the sustainable aviation industry.
"SAF is proof of SOE collaboration in emission reduction efforts and supporting the Net Zero Emission targets achievement," Fadjar explained.
Meanwhile, Pertamina's healthcare subsidiary, PT Pertamina Bina Medika - Indonesia Healthcare Corporation, has completed the topping-off ceremony for Bali International Hospital (BIH) construction. BIH will be an international-class hospital in the Special Economic Zone (KEK) for Health in Sanur, Bali.
Pertamina also continues to innovate. In 2023, four research products successfully reached commercialization, and eight new Intellectual Property Rights (IPR) were added.
Digitalization: Pertamina's Strategic Key
Fadjar added that digitalization is the strategic key to integrated management for enhancing Pertamina's business services. Digital innovations in 2023 included optimizing fuel and LPG stock and supply, which has improved efficiency in the targeted subsidized fuel and LPG distribution. Digital utilization has also been employed to enhance reliability and mitigate unplanned shutdowns of Pertamina's refineries.
"The advancements in Pertamina's digitalization support efficiency, decision-making processes, security and reliability, and the improvement of services across all Pertamina's businesses to the community," added Fadjar.
Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social & Governance (ESG) implementation across all Pertamina's business lines and operations.**