Post-Restructuring, Pertamina's Assets Grow by 32 Percent
Jakarta, September 26, 2024 – Four years after its organizational and business restructuring, Pertamina's assets grew by 32 percent from 2020 to 2023, reaching USD 91.1 billion or equivalent to IDR 1,390 trillion by the end of 2023. This asset growth is expected to continue in line with Pertamina's increasing operations in the future.
The Vice President of Corporate Communication of PT Pertamina (Persero), Fadjar Djoko Santoso, stated that Pertamina's asset growth was driven by an increase in fixed assets and the expansion of oil, gas, and geothermal properties managed by the Pertamina Group.
"Since the organizational restructuring, the financial and operational performance across all lines, including the holding and sub-holdings, has become more solid and reliable, driving the Company's asset growth," Fadjar said.
According to Pertamina's 2023 Annual Report, Pertamina's assets were historically recorded at USD 69.14 billion in 2020, growing to USD 78.05 billion in 2021. The assets increased to USD 87.8 billion in 2022, and by the end of 2023, Pertamina's assets had reached USD 91.1 billion, or equivalent to IDR 1,390 trillion.
"Pertamina will continue to optimize its assets and pursue operational excellence to sustain the Company's positive performance," Fadjar added.
Fadjar also noted that Pertamina will continue to implement the Cost Optimization program across the entire Pertamina Group to enhance the Company's business agility, flexibility, and efficiency.
"Success in asset optimization and efficiency plays a significant role in supporting the increase in the company's revenue and profit," Fadjar concluded.
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.**