Through the Project Financing Closing, Pertamina has Effectively Secured USD 3.1 Billion in Funding for the RDMP Balikpapan Refinery Project

To our esteemed investors and analysts, 

PT Pertamina (Persero) successfully organized the Project Financing Closing Ceremony for the Refinery Development Master Plan (RDMP) Kilang Balikpapan, securing around USD 3.1 billion in project funding. The ceremony, attended by prominent figures and lenders, marked a significant milestone for Pertamina's accelerated efforts.

Through its subsidiary PT Kilang Pertamina Balikpapan, the Sub Holding Refining & Petrochemical Pertamina received funding support from Export Credit Agencies and 22 banking institutions. The event took place on June 23 at Ballroom Grha Pertamina.

Deputy Minister of State-Owned Enterprises I, Pahala N. Mansury, expressed confidence in completing the RDMP Kilang Balikpapan project within the set timeline, contributing to national energy resilience. This achievement reaffirms Pertamina's reputation as a trustworthy global energy company in the eyes of lenders.

The RDMP Kilang Balikpapan project, designated as a National Strategic Project (PSN), plays a crucial role in enhancing national energy resilience. It aims to increase crude oil processing capacity from 260,000 to 360,000 barrels per day, while producing environmentally friendly fuel products compliant with EURO V standards. The refinery's Nelson Complexity Index will also improve significantly from 3.7 to 8, indicating enhanced processing efficiency.

Feri Yani, CEO of PT Kilang Pertamina Balikpapan, emphasized the importance of collaboration with trusted partners to expedite project completion. Despite the challenges posed by the pandemic, the project team demonstrated remarkable dedication, resulting in construction progress reaching 74.03% as of June 2023.

Fadjar Djoko Santoso, VP Corporate Communication at Pertamina, highlighted that the RDMP Kilang Balikpapan would serve as a cornerstone of energy resilience in the Central Region of Indonesia, supplying energy to various areas, including Kalimantan.

This project is allign with Pertamina's commitment to support the Net Zero Emission 2060 target and implement Environmental, Social, and Governance (ESG) practices in its operations, while also producing more environmentally friendly products.

Furthermore, we encourage you to visit the Pertamina website to have our latest news and Investor information: https://www.pertamina.com/en/Investor-relations

We sincerely appreciate your continued and profound interest towards Pertamina. If there any questions regarding the following material or anything related to Pertamina’s scope of business, please do not hesitate to contact the Pertamina Investor Relations Team through pertamina_ir@pertamina.com

Best regards,
Pertamina Investor Relations