Jakarta – PT Pertamina Hulu Indonesia (PHI) recorded positive oil and gas (O&G) production performance exceeding the Company's Work Plan and Budget (RKAP) target at the Annual General Meeting of Shareholders (AGMS) for Fiscal Year 2025, held on June 3, 2026, in Jakarta. Throughout 2025, PHI's average oil production reached 44.42 thousand barrels of oil per day (MBOPD), or approximately 107.29% of the 2025 RKAP target. Meanwhile, gas production averaged 536.72 million standard cubic feet per day (MMSCFD), or approximately 101.34% of the established target. This achievement marked the first time in the last five years that the Company exceeded its oil and gas production targets.

The Annual General Meeting of Shareholders was chaired by PHI President Commissioner, Meidawati, and attended by PHI Commissioner Nana Sudjana, PHI President Director Sunaryanto, and the Company's management team, as well as PHI shareholders, namely PT Pertamina Hulu Energi (PHE), as the majority shareholder represented by PHE Exploration Director Muharram Jaya Panguriseng, and PT Pertamina Pedeve Indonesia, represented by Corporate Secretary & Business Support Ali Syamsul Rahman.

Muharram Jaya Panguriseng, Exploration Director representing the majority shareholder PT Pertamina Hulu Energi, expressed appreciation for PHI's 2025 performance, particularly in HSSE, production, and lifting achievements that exceeded targets. In addition, PHI was considered successful in keeping operational and production costs below target while continuing efforts to increase production. Along with increased business revenue, shareholders encouraged PHI to further strengthen production enhancement efforts in 2026.

In addition to production performance, PHI also recorded an increase in 1P oil and gas reserves of more than 70 million barrels of oil equivalent, or more than 193% of the 2025 RKAP target. This achievement was supported by the successful completion of 146 development wells, 619 workovers, and 9,783 well services.

PHI President Director, Sunaryanto, explained that the Company's positive production performance in 2025 was supported by its commitment to delivering sustainable oil and gas production to help achieve national production targets. “At PHI, we continue to invest in Indonesia's upstream oil and gas industry in line with the Company's vision and mission, as well as the commitment of PT Pertamina Hulu Energi (PHE) and PT Pertamina (Persero) as the upstream subholding and holding company to provide sustainable energy for Indonesia,” he said.

According to Anto, as Sunaryanto is commonly known, PHI continues to invest in exploration and exploitation activities to ensure sustainable oil and gas production, which is important in supporting national energy availability and resilience. “The increase in oil and gas production and lifting performance in fiscal year 2025 was the result of selective investment, filling-the-gap innovations, baseline optimization, and well intervention activities,” he added. Over the past five years, PHI has drilled 13 exploration wells and 517 exploitation (development) wells to maintain sustainable oil and gas production from the Kalimantan region.

According to him, all upstream oil and gas operations are carried out with safety, security, and operational reliability as top priorities to achieve optimal performance. In addition to recording more than 32 million safe working hours since May 2025, PHI also achieved excellent safety performance, with a zero Number of Accidents (NoA) and a Total Recordable Injury Rate (TRIR) of 0.14, which was below the tolerance limit of 0.19. It successfully helped reduce carbon emissions by more than 215 kilotons, supporting environmental sustainability and climate change mitigation efforts.

Regarding financial performance, the External Auditor stated in its opinion that the Company's Consolidated Financial Statements fairly present, in all material respects, the consolidated financial position of the Group as of December 31, 2025, as well as its consolidated financial performance and cash flows for the year then ended, in accordance with Indonesian Financial Accounting Standards. In addition, the Company's health rating achievement in 2025 was AA+ (idn) with a stable outlook.

At the Annual General Meeting of Shareholders, Sunaryanto also presented the Company's commitment to Corporate Social Responsibility (CSR), particularly through Community Involvement and Development (CID) programs aimed at strengthening community capacity and independence. PHI implements CID programs in the fields of the economy, education, health, the environment, infrastructure, and disaster management to support the Government's efforts to achieve Indonesia's Sustainable Development Goals (SDGs). Throughout 2025, PHI invested in 65 CID programs involving communities and local governments around its operational areas in East Kalimantan.

During 2025, PHI received various national and international awards from government institutions and private organizations for its success in managing safe, reliable, compliant, and environmentally friendly upstream oil and gas operations. In addition to receiving three Green PROPER awards, PHI and its subsidiaries were recognized for achievements in security, local content (TKDN), corporate communications, and corporate CID programs.

PT Pertamina Hulu Indonesia (PHI) is part of Pertamina's Upstream Subholding, managing upstream oil and gas operations and businesses in Regional 3 Kalimantan, which covers Zona 8, Zona 9, and Zona 10, in accordance with Environmental, Social, and Governance (ESG) principles. In pursuing its vision, PHI and its subsidiaries, in collaboration with SKK Migas, conduct safe, efficient, reliable, compliant, and environmentally responsible upstream oil and gas operations to support national energy availability and resilience and realize #EnergiKalimantanUntukIndonesia. PHI is headquartered in Jakarta. For more information about PHI, please visit https://phi.pertamina.com.