Jakarta – PT Pertamina Hulu Indonesia (PHI) recorded a positive performance by exceeding its oil and gas production target set in the 2021 Company Work Plan and Budget (RKAP). Throughout 2021, oil production realization reached 46.5 thousand barrel of oil per day (MBOPD) and gas production reached 625 million standard cubic feet (MMSCFD). The Company announced the positive achievements during the 2021 Annual General Meeting of Shareholders (AGMS) held on Tuesday, 24 May 2022.

PHI President Commissioner Adriansyah along with the company’s board of commissioners, and PHI President Director Chalid Said Salim attended the AGMS. PT Pertamina Hulu Energi (PHE) representatives, Strategic Planning and Business Development Director Danar Dojoadhi and VP Controller Caesarian, as well as PT Pertamina Pedeve Indonesia Director Rahmi Amini also attended the meeting representing the shareholders.

PHI President Director Chalid Said Salim presented the Company’s strategy and work programs realization in 2021, as well as the operational and business challenges faced by the Company that required it to continue to adapt, innovate and take quick and right decisions.

“We applied the best practices to maintain production level and restrain the natural declining rate production in supporting the national oil and gas production target. PHI successfully exceeded our oil and gas production target, which reached 103.4% and 102.3% of the target in RKAP,” Chalid said.

Chalid explained that the Company continued to invest in exploration and oil and gas fields development to discover new resources and increase the oil and gas reserves that were important for national energy security. In 2021, PHI conducted 102 exploitation well drillings, 3 exploration well drillings, 257 workovers and 6,205 well services.

“With the oil and gas operation and business complexity that we face, PHI continues to put safety aspect as our main priority for all of our oil and gas operations and business. In 2021, PHI reached zero number of accident (NOA) with more than 51 million hours of safe working hours,” he said.

For the community empowerment aspect, especially within the Company’s operation areas, PHI carried out 79 Corporate Social Responsibility programs in 2021. PHI’s CSR programs consisted of 11 education programs, 16 economic programs, 16 healthcare programs, 4 infrastructure programs, 22 environmental programs, and 10 study & disaster programs aimed to achieve the Sustainable Development Goals (SDGs).

“In total, PHI’s KPI realization in 2021 exceeded its target with a final score of 100.64%. In terms of Company Financial Performance Level in 2021, PHI continued to achieved the AA Health category,” Chalid said.

PHI applied various initiatives to improve the Company’s operations and business performance and saved millions of dollars. One of the efforts included the utilization of ex-termination materials or Maxter. Maxter was part of the cost optimization in the Pertamina Upstream Subholding or also known as OPTIMUS (Optimization Upstream). The program was aimed to reduce leftover termination material that could be reused in various projects and operations. “As of December 2021, Kalimantan Regional 3’s active materials stock reached USD 152.27 million and we were able to use USD 25.3 million or IDR 361 billion worth of ex-termination materials through Maxter, or equal to 144% from RKAP target,” Chalid said.

In 2021, PHI also scored various achievements and awards such as Satya Lancana Wira Karya from the President of Indonesia, Subroto Award, Petra Nirbhaya Karya Utama Award, 5 awards in the 2nd International Convention on Indonesian Upstream Oil & Gas (IOG), as well as 3 Gold Proper and 8 Green Proper awards from the Ministry of Environment and Forestry.

PT Pertamina Hulu Indonesia (PHI) is part of Pertamina’s Upstream Subholding that manages upstream oil and gas operations and business according to the ESG (Environment, Social and Governance) Principles in the Kalimantan Regional 3. To achieve its vision to be a world-class oil and gas company, PHI continues to conduct innovation and technological application to produce safe, efficient, reliable, compliant and environmentally friendly energy to support #KalimantanEnergyforIndonesia. PHI is headquartered in Jakarta. Further information about PHI is available on https://phi.pertamina.com.