Pertamina Wins Cost Optimization Of Up To 1.25 Billion US Dollars

JAKARTA - Pertamina and all its business lines achieved cost efficiency and an increase in profit of up to 1.25 billion US dollars in 2023.

This achievement comes from the Cost Optimization program which is run in all Pertamina Groups.

President Director of PT Pertamina (Persero) said that throughout 2023 301 Cost Optimization programs were carried out starting from financial and operational strategies.

"This shows that the company's business performance in red plate energy is now more agile, agile and efficient," he said in a statement to the media, Monday, March 11.

Nicke added that success in cost optimization plays a very important role in supporting the increase in company revenue and profit. With more efficient operations, Pertamina is able to optimize greater income potential and become a leader in the national energy business.

"Pertamina, is now getting stronger in its commitment to continue to innovate, maintain operational efficiency, and maintain its position as a leader in the energy sector in Indonesia," added Nicke.

Pertamina has carried out various best innovation programs, both upstream, processing, distribution and marketing. In the upstream sector, the innovations carried out include centralization of chemical procurement and borderless operation.

In the processing sector, innovations carried out include crude procurement optimization, energy consumption efficiency programs and optimization of the process units. In the distribution sector, route optimization, parcel size and tonnage are carried out. Meanwhile, in the commercial & trading sector, Pertamina runs an efficiency program for the LPG & BBM procurement process.

In addition, Pertamina Holding also runs optimization programs such as liability management, tax renegotiation, IT infrastructure centralization, optimization of supporting assets and centralization of the goods and services procurement process.

"The synergy of business, digital transformation, revenue outcome, and low risk ESG are four focuses on increasing cost optimization this year," continued Nicke.