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PT Pertamina Hulu Indonesia Successfully Achieved Cost Efficiency of USD 66.5 Million in 2022

PT Pertamina Hulu Indonesia Successfully Achieved Cost Efficiency of USD 66.5 Million in 2022

Jakarta- PT Pertamina Hulu Indonesia (PHI) succeeded in implementing cost efficiencies during 2022 to reach USD 66.5 million or more than 950 billion rupiah. This achievement also led PHI to win 9 Optimus Awards consisting of 1 award from PT Pertamina (Persero) and eight awards from PT Pertamina Hulu Energi (PHE), awarded on Wednesday, 1 March 2023.

The Optimus Award is a cost optimization program by PT Pertamina (Persero) and PHE as Subholding Upstream (SHU) Pertamina to achieve sustainable growth and efficiency and remain competitive.

PHI won nine awards, namely the Persero Best Collaborative Action Program between PT PHI and PT Badak NGL with optimization of USD 16 million, while eight awards from PHE, namely Most Replicable through the WLI Zone 8 program (1st winner), Best Synergy & Borderless Ops with Maxter program (1st winner), Best Cost Optimization Team (1st winner), Best Cost Avoidance with Maxter ABI program (3rd winner), Best Change Of Work Philosophy with ICT program (3rd winner), Best Contribution of USD 66.7 million ( 2nd winner), Most Cooperative Team (2nd winner), and Best Synergy & Borderless Ops with the Explo study program (2nd winner).

President Director of PHI Chalid Said Salim said that this achievement at PHI is a form of the company's commitment to continue to push the cost optimization strategy as one of the cultures proclaimed through the Optimus or Optimization Upstream program so that the company can encourage a sustainable business.

"Overall, the cost optimization value reached USD 66.5 million, or 152% of the target set for 2022." Said Chalid.
Chalid added that the company constantly optimizes costs throughout the company's business cycle to generate savings. PHI obtained this achievement from 20 program initiatives that fall into Cost Saving, Cost Avoidance, and Revenue Growth categories.

The program that received The Best Collaborative Action Program from Pertamina (Persero) was achieved through the synergy and borderless operation of the subsidiary. Such as the LPG Lifting PHI and Badak NGL Projects, with the major initiatives, namely inventory planning lifting and LPG monitoring, and negotiating LPG sales contracts.

The implementation of this optimization was obtained from the modification of the Badak NGL refinery plant to produce LPG, which PHI commercializes. Overall, this program achieved savings initiatives of up to USD 16.4 million.

In addition, PHI achieved drilling optimization achievements through PHI's subsidiary. Namely, PT Pertamina Hulu Mahakam (PHM), with three main innovations, namely optimization of good architecture, optidrill or invasion of re-entry well drilling, and innovation of good drilling using swivel tubing, Flowrate optimization and ECD, selection and design of drill chisels, as well as online activities, with an optimization achievement of USD 57.98 million.

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 2021, through its subsidiaries and affiliates, PHI produced an average of 46.5 thousand barrels of oil per day (MBOPD) oil and gas production of 625.2 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 on PHI is available at https://phi.pertamina.com.

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