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PT Pertamina Hulu Indonesia Executes Various Strategies to Support the Achievement of 2023 Operational and Business Targets

PT Pertamina Hulu Indonesia Executes Various Strategies to Support the Achievement of 2023 Operational and Business Targets

Jakarta- PT Pertamina Hulu Indonesia (PHI) implemented various operational and business strategies to continue the company'scompany's positive performance achievements in 2022. The strategies that will be carried out in 2023 include portfolio optimization in exploration, development, production optimization, and operational synergy, as well as increasing the reliability of production facilities in the company work area in Kalimantan. This was conveyed by the Main Director of PHI, Chalid Said Salim, during a Gathering with the Media on Tuesday, April 11, 2023.

Chalid explained that to face the challenges of mature oil and gas fields, and the company implemented an aggressive exploration activity strategy to seek new resources, optimize baselines and development to increase production, increase synergies and joint procurement with Pertamina group entities, as well as evaluate and optimize assets. Portfolio.

"In 2023, the PHI production target is set at 63.4 MBOPD for oil and 668.5 MMSCFD for gas, followed by the drilling target of 198 development wells, 5 exploration wells, and 337 workovers. This target is in line with the strategy that has been set, "said Chalid.

Until this first quarter, PHI achieved oil production of XX and gas of XX. PHI also succeeded in drilling … exploration wells and … exploitation/development wells. In addition, according to Chalid, the company encourages effective digitalization to increase collaboration, business, and innovation, as well as carry out cost efficiency and optimization throughout the company'scompany's business cycle to produce cost savings superior operating performance.

"Efforts to optimize efficiency and costs during 2022 that the Company carried out succeeded in producing savings that exceeded the target, namely reaching USD 66.5 million or more than 950 billion rupiahs obtained from 20 program initiatives in the categories of Cost Saving, Cost Avoidance, and Revenue Growth," Chalid explained.

Chalid added that this success in optimizing costs had led PHI to win 9 Optimus Award awards, namely 1 from PT Pertamina (Persero) and 8 from PT Pertamina Hulu Energi (PHE), which were handed over on March 1, 2023.

Chalid acknowledged that the success of PHI in 2022 and efforts to achieve the company's-company's short-term and long-term targets could be realized thanks to the collaboration with all stakeholders, especially the Government, partners, and the community.

Meanwhile, Kalimantan Regional Communication, Relations & CID Manager Dony Indrawan conveyed the importance of education and positive communication about the company and the upstream oil and gas industry to all stakeholders, including the mass media.

"With positive support from media partners, the dissemination of the company's positive activities can reach a wider audience to increase stakeholder support for the company's activities," he concluded.

Dony explained that the company continues conducting community development programs through a special CSR program. In 2022, PHI received 4 Gold PROPER and 7 Green PROPER awards from the Ministry of Environment and Forestry.

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.

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