President Director of Pertamina Unveils Operational Performance and Readiness for Nataru 2024; DPR Appreciates Pertamina's Performance

Jakarta, November 22, 2023 - In a hearing with Commission VII of the Indonesian House of Representatives (DPR RI), PT Pertamina (Persero) outlined its subsidiaries' operational performance, ranging from the progress of refinery construction projects, strategies, oil and gas production achievements, distribution of subsidized fuels and LPG, to Pertamina's readiness ahead of the Christmas and New Year celebrations in 2024.

In the hearing held at the Nusantara Building DPR RI in Jakarta, the Chairman and Members of Commission VII appreciated Pertamina's positive performance, which continues to improve and is supported by its sub-holding or subsidiary.

Commencing the presentation, the President Director of PT Pertamina (Persero), Nicke Widyawati, accompanied by the Chief Executive Officer (CEO) of Subholding Refinery & Petrochemical Pertamina, Taufik Aditiyawarman, stated that in line with the energy transition, Pertamina had adjusted its focus by directing the refinery revitalization projects not only to increase refinery production capacity and quality but also to produce green energy products such as petrochemicals, gas, and their derivatives.

"We have been adjusting for the past two years. Our priority is the revitalization, improving the existing refineries' quality because they were built long ago," said Nicke Widyawati before the DPR RI Commission VII on Tuesday, November 21, 2023.

Nicke explained that the Balongan Refinery Development Master Plan (RDMP) has been operating since June 2022, increasing the national production capacity by 25,000 barrels per day. The Balikpapan RDMP is underway with two milestones: increasing refinery capacity by 100,000 barrels per day and improving fuel quality from Euro 2 to Euro 5 standards. In relation to the energy transition, Nicke explained that Pertamina is developing green refinery projects at Cilacap, Plaju, and Dumai. There are also petrochemical complex under construction in Balongan and TPPI and gas downstream in Bintuni and Bojonegoro.

During the same session, Nicke Widyawati, accompanied by the CEO of Subholding Commercial & Trading of Pertamina, Riva Siahaan, also discussed various efforts by Pertamina to control the subsidized fuel and LPG distribution, making it more targeted. Collaboration with different agencies has helped Pertamina save 1.3 million kiloliters (KL) for subsidized diesel and 1.7 million KL for Pertalite.

Regarding the potential overquota of subsidized fuels and LPG, Nicke explained it is influenced by the positive national economic growth. "With this improving economic growth, there is a possibility of an overquota for diesel and LPG. Despite the overquota and increase in volume, from a budgetary perspective, it is very safe," Nicke said.

Nicke also ensured Pertamina's readiness in securing fuel and LPG supply ahead of the Christmas and New Year (Nataru) celebrations in 2024. "We ensure that our average stock is between 21 and 26 days to maintain stock security, ensuring that Christmas and New Year will proceed smoothly," she added.

In the final segment, Nicke Widyawati, with the CEO of Subholding Upstream, Wiko Migantoro, outlined the company's performance and strategies for increasing oil and gas production. She stated that overall, Pertamina's oil and gas production experienced an average growth of 8 percent. It is a result of Pertamina's efforts to carry out massive and aggressive drilling for exploration and exploitation wells, which reached 820 wells, and well maintenance (workover) of 32,530 wells. According to Nicke, currently, Pertamina manages 30% of the national oil and gas blocks, but its contribution to national oil and gas production reaches 68%.

"We appreciate the support of the DPR because this is our joint commitment to provide sufficient supply to the public for the remaining one and a half months of the year," Nicke 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.**