Jakarta– PT Pertamina Hulu Indonesia (PHI) recorded a positive performance at the PHI Annual General Meeting of Shareholders (AGMS) Monday (08/05). By 2022, actual oil production will reach 43.2 thousand barrels of oil per day (MBOPD) and gas production of 601.7 million standard cubic feet per day (MMSCFD). The PHI achievement is the consolidated performance of three PHI Subsidiaries, namely Pertamina Hulu Mahakam (PHM), Pertamina Hulu Sanga Sanga (PHSS), and Pertamina Hulu East Kalimantan (PHKT).

The AGMS was attended by the Main Commissioner of PHI, Adriansyah, along with the Board of Commissioners of PHI and the President Director of PHI, Chalid Said Salim. Meanwhile, from the shareholders, present the Director of Strategic Planning and Business Development, Danar Dojoadhi, and VP Controller, Caesarian representing PT Pertamina Hulu Energi (PHE), as well as the Director of PT Pertamina Pedeve Indonesia, Rahmi Amini.

In his presentation, Chalid Said Salim conveyed the strategies and work programs realized for 2022. Apart from that, Chalid also explained operational and business challenges that demand adaptation, innovation, and making quick and precise decisions.

"We always encourage and implement innovations and technological applications that can improve the safety, reliability, and excellence of the Company's oil and gas operations," said Chalid.

Chalid explained that the company continues to invest in exploration and development activities of oil and gas fields to add reserves which are important for the sustainability of the company's operations and national energy security. In 2022, PHI will drill 119 development or exploitation wells, 2 exploration wells, 309 workover activities, and 6628 well service activities.

In 2022, PHI will achieve zero work accidents (NOA/Number of Accidents) with more than 96.6 million safe working hours. "We always run oil and gas operations that are safe, reliable, environmentally friendly, and comply with all applicable regulations in line with applying the Company's ESG (Environment, Social, and Governance) principles and performance," said Chalid.

In community empowerment, especially in the company's operational areas, PHI has implemented 63 Social and Environmental Responsibility (CSR) programs throughout 2022. PHI's CSR programs consist of 11 education programs, 11 economic programs, 10 health programs, 6 infrastructure programs, 17 environmental programs, and 25 study & disaster programs intended to support the achievement of the Sustainable Development Goals (SDGs).

"Overall, the realization of the 2022 PHI KPI has exceeded the target with a final score of 105.52%. As for the Company's Financial Performance Level for 2022, PHI will again receive the Healthy AA category," Chalid explained.

PHI implemented various initiatives to improve the company's operations and business performance and save millions of dollars. One of the things that have been done is the use of ex-termination material or abbreviated as Maxter. Maxter is part of the cost optimization program at Subholding Upstream Pertamina, or OPTIMUS (Optimization Upstream). This program aims to reduce the supply of material left over from termination, which can be reused in various projects and operational activities.

"As of December 2022, we have succeeded in realizing the use of ex-termination materials through Maxter worth USD 32.35 million, equivalent to 137.96% of the RKAP target," said Chalid.

In addition, Chalid added that the company recorded a positive performance in the company's synergy. "Contract synergies with other Pertamina subsidiaries and affiliates resulted in value creation of USD 266 million. The LPG Optimization Project (LPO) with the PT Badak refinery received a value creation of USD 35.7 million," added Chalid.

In 2022, PHI also managed to score various achievements and awards, including Patra Karya Raksa Tama I for the Oil and Gas Work Safety Development Category and Patra Nirbhaya Karta Utama Adinugraha II for Pertamina Hulu Mahakam (PHM) from the Ministry of Energy and Mineral Resources, 2 Gold Proper and 1 Proper Green from the Ministry of Environment and Forestry (KLHK), Invention Thailand Awards for The Best International Invention & Innovation, and Special Awards Chinese Innovation and Invention Society Taiwan to IP SALUT for PHM and Seoul International Invention Fair (SIIF) 2022: Gold Prize, Special Prize Masaei Women's Charitable Association Saudi Arabia to Pertamina Hulu East Kalimantan (PHKT).

PT Pertamina Hulu Indonesia (PHI) is part of Pertamina's Upstream Subholding, which manages upstream oil and gas operations and business according to ESG (Environment, Social, Governance) principles in Regional 3 Kalimantan. In 2022, through its subsidiaries and affiliates, PHI produced an average of 57.8 thousand barrels of oil per day (MBOPD) oil and gas production of 668.3 million standard cubic feet of gas per day (MMSCFD). In achieving its vision of becoming a world-class oil and gas company, PHI continues to carry out various innovations and technological applications in producing safe, efficient, reliable, compliant, and environmentally friendly energy to support #EnergiKalimantanForIndonesia. PHI is headquartered in Jakarta. Further information about PHI is available at https://phi.pertamina.com.