Pertamina Secures 13 Awards at the 4th International Convention on Indonesian Upstream Oil & Gas 2023

Bali, September 23, 2023 - PT Pertamina Hulu Energi (PHE), Pertamina's Upstream Subholding’s subsidiary, received 13 awards from SKK Migas at the 4th International Convention on Indonesian Upstream Oil & Gas (ICIUOG) 2023, in Nusa Dua, Bali, from September 20 to 22, 2023. These awards were presented to Contractors under Cooperation Contracts (KKKS) affiliated with PHE.

"We appreciate SKK Migas for recognizing Pertamina Group with these awards. We also extend our thanks to our entire team and stakeholders who have supported our performance, enabling us to receive these honors," said Oto Gurnita, Director of Human Resources and Business Support of PHE, on Friday (22/09).

"Currently, we are all facing the challenging national production targets for 2030, which include one million Barrels of Oil Per Day (BOPD) and 12 billion standard cubic feet per day (BSCFD) of gas. We are confident that with the stakeholders’ support as strategic partners and third-party support, we can fulfill these established targets. These awards will motivate us to continue contributing to national production in Indonesia," he added.

PHE manages four domestic regional areas across various parts of Indonesia and one international region. Additionally, PHE has subsidiary companies in the service and other sectors. The entirety of PHE's business lines aims to ensure the sustainability of the upstream oil and gas industry and uphold national energy resilience.

The awards received by the Pertamina Group include:

1. The Best Career Development Performance (P1 Category): PT Pertamina Hulu Mahakam
2. The Most Optimum Collaboration in Dispute Settlement: PT Pertamina Hulu Energi
3. Integrity Compliance and Ethics (ICE): JOB Pertamina - Medco E&P Tomori Sulawesi
4. The Best Replacement Reserve Ratio from Contingent Resource: PT Pertamina Hulu Energi ONWJ
5. The Key Investment for Unlocking New Resources: PT Pertamina Hulu Rokan
6. The Best Exploitation and Operation Excellence Cluster Production Above 10 MBOEPD: PT Pertamina Hulu Sanga Sanga
7. The Best Exploitation and Operation Excellence Cluster Production Below 10 MBOEPD: PT Pertamina Hulu Energi TEJ
8. The Best Cost Optimization and Positive Collaboration: PT Pertamina Hulu Mahakam
9. The Best Asset Management: PT Pertamina Hulu Mahakam
10. The Best Inventory Management: PT Pertamina Hulu Mahakam
11. The Best Cost Initiatives: JOB Pertamina - Medco E&P Tomori Sulawesi
12. The Best Booth: PT Pertamina Hulu Energi
13. The Best PSC of The Year: PT Pertamina Hulu Mahakam

In his speech, the Head of SKK Migas, Dwi Soetjipto, expressed appreciation for the participation of all ICIUOG attendees, with more than 3,000 participants from 17 countries. He also announced the Best PSC of The Year Award directly, stating, "SKK Migas is committed to supporting all KKKS in achieving the production targets that have been set. On this occasion, I would like to congratulate Pertamina Hulu Mahakam as the Best PSC of the Year."

All the achievements obtained will motivate PHE to face the challenges of sustaining the upstream oil and gas industry in the long term. PHE is implementing several strategies to support national energy sovereignty. PHE is pursuing three initiative strategies: sustain - managing existing working area (WK) assets, where exploration contributions are needed to maintain and increase oil and gas production. The second strategy, growth, involves seeking new exploration potential to support the company's long-term growth. The third strategy, partnership, adds value to exploration activities through risk-sharing, cost-sharing, and technology implementation.

The Vice President of Corporate Communication of PT Pertamina (Persero) stated that Pertamina, through its upstream sector subsidiaries, continues to increase production to support the government's target of achieving one million BOPD and 12 BSCFD of gas.

"This award serves as motivation for all employees and management to optimize Pertamina's upstream operations," said Fadjar.

PHE will continue to invest in upstream oil and gas operations management while following the ESG (Environmental, Social, Governance) principles to support the government's goal of reaching one million BOPD of oil and 12 BSCFD of gas production by 2030. PHE has been a participant/member of the United Nations Global Compact (UNGC) since June 2022. PHE is committed to the Ten Universal Principles of UNGC in its strategy and operations as part of the ESG aspects implementation. PHE will continue to develop its operations management, both domestically and internationally with a focus on professional operation excellence, aiming to become a world-class environmentally friendly, socially responsible, and good governance-oriented oil and gas company.**