Pertagas Books 127.2 Million US Dollar Net Profit In 2021

Officers are inspecting the Pangkalan Brandan Gas Compressor Station pipeline operated by PT Pertamina Gas Operation North Sumatra Area. (Photo: ANTARA)

JAKARTA - PT Pertamina Gas (Pertagas) managed to achieve a positive performance in 2021 by recording a net profit of 127.2 million US dollars.

This achievement was explained by the Board of Commissioners and Directors of Pertagas at the Annual General Meeting of Shareholders (GMS) of PT Pertamina Gas for the 2021 Fiscal Year at Grha Pertamina, Gambir, on Thursday 19 May.

"Pertagas' 2021 net profit reached 109 percent or exceeded the RKAP target of US$116.3 million. This achievement is in accordance with the results of the 2021 Audited Financial Report," said Gamal Imam Santoso, President Director of Pertagas after the 2021 Annual GMS.

Furthermore, Gamal explained, the achievement from a financial perspective was supported by achievements in the line of business, cost optimization and profit contribution from Pertagas' subsidiaries.

Achievements in terms of business lines were supported by increased realization of performance in the gas transportation sector, gas trading sector and gas processing sector.

The realization of gas transportation reached 102 percent of the 2021 RKAP target with a total flow volume of more than 470 thousand MMSCF, the realization of gas trade also reached 102 percent with a total sales volume of 28,867 BBTU.

Meanwhile, the realization of gas processing in the form of LPG processing by Pertagas and its subsidiaries totaled 101 percent.

In addition to Pertagas' main business lines, cost optimization and increased performance of subsidiaries also contributed to the achievement of net profit exceeding the target.

"PT Perta Samtan Gas managed to record a net profit of USD 46.7 million or 30 percent higher than the RKAP and PT Perta Arun Gas which posted a net profit of USD 23.4 million or 21 percent higher than the RKAP," said Gamal.

He added, to develop the company's business, throughout 2021, Pertagas has completed the execution of 4 projects, namely the ADK Gas Pipeline project, LNG Filling Station Cargo Dock, Tambak Lorok Gas Pipeline and Cepu RF.

In its efforts to achieve financial targets, Pertagas continues to prioritize aspects of HSSE (Health, Safety, Security and Environment) as a guideline in carrying out daily operational activities.

Pertagas HSSE performance was recorded, namely the zero number of work accidents with a total safe working hours of 9,251,587 working hours in 2021.

"For its consistency in implementing HSSE, Pertagas has won various awards such as the work safety award from the Ministry of Energy and Mineral Resources and the zero accident award from the Ministry of Manpower," said Gamal.

Not only safety factors, health and environmental factors did not go unnoticed by Pertagas.

From June to August 2021, Pertagas took part in accelerating the handling of COVID-19 by converting 9 LNG isotans to oxygen isotans which distributed a total of 137 tons of medical oxygen to 37 hospitals in Java, Bali and Lampung.

In addition, Pertagas also provided assistance for 286 units of oxygen cylinders to health facilities in Central Java, East Java and Bali.

Furthermore, Gamal said, the company's growth must contribute to the economy and the welfare of the community around the company's operational areas.

To that end, Pertagas focuses on developing various superior Corporate Social Responsibility (CSR) programs in its operational area, namely the Gresik Tuli Community, Daya From the Heart Smoked Fish Village, Love Wire, Saung Patra, Batik Ecoprint, and Sidomulyo Tourism Village.

"The CSR program implemented by Pertagas in 2021 targets 67,672 beneficiaries, contributing to emission reductions of approximately 23.6 tons of CO₂eq and more than 15,650 kg of organic waste being utilized," explained Gamal.

All of these efforts brought Pertagas to win 64 awards in 2021 in the fields of HSSE, CSR, Public Relations, Sustainability, Quality Management, Business, Digitization, and Innovation.

"We are grateful for all these achievements, hopefully they can trigger the enthusiasm of workers for even better company performance in 2022," said Gamal.