Pertamina Drilling Profit Increases 43 Percent In 2023

Oil refinery (between)

JAKARTA - PT Pertamina Drilling Services Indonesia (Pertamina Drilling) made a brilliant achievement in 2023 by posting company profit growth of 43 percent compared to the previous year.

This was announced at the Pertamina Drilling Annual General Meeting of Shareholders (AGMS) for the 2023 Financial Year.

Pertamina Drilling's positive performance in 2023 shows the company's commitment and persistence in supporting Pertamina and Indonesia's upstream oil and gas operations.

This significant profit growth is clear evidence of the company's exact and effective strategy, as well as the hard work of all Pertamina Drilling personnel.

Diparkan oleh Direktur Utama Pertamina Drilling Avep Disasmita, selain sisi keuangan yang tumbuh secara signifikan, Pertamina Drilling juga mencatatkan capaian ami pada sisi operasional.

In 2023, Pertamina Drilling has worked on 577 wells in total with a Non-Productive Time (NPT) record of 1.08, lower than the set target of 1.50.

For the Rig Productivity aspect, Pertamina Drilling has achieved the highest achievement since the Company's establishment, which is 72.34 percent.

On this occasion, Avep also appreciated the qualified performance of Pertamina Drilling Officers and also the support from PHE and Pertamina Pedeve as Shareholders of Pertamina Drilling.

So that Pertamina Drilling can provide brilliant results throughout 2023, both in terms of finance and in terms of company operations.

"With all the achievements that have been achieved, we are optimistic that Pertamina Drilling can run faster in 2024 and continue its brilliant achievements by making various efforts to accelerate the growth of the Company's business which focuses on best quality delivery and customer focus," he said, citing a written statement, Saturday, May 11.

He said Pertamina Drilling would continue to contribute to energy transition efforts with sustainable innovation in realizing the national oil production target of 1 million barrels per day (BOPD) and natural gas of 12 billion cubic feet per day (MMSCFD) standards in 2030.

As PHE's representative as the Shareholder of Pertamina Drilling, PHE Exploration Director Muharram Jaya Panguriseng also gave directions for Pertamina Drilling in the future.

The aggressiveness of oil and gas companies (oil and gas) in the future is required to be even more advanced. Automatically, service companies engaged in the oil and gas sector must also prepare themselves to answer the challenges of energy security," said Muharram.

In this AGMS, Shareholders decided on the distribution of dividends from the Company's Profit for the 2023 Fiscal Year and gave approval for the annual report.

This includes the ratification of Pertamina Drilling's financial statements accompanied by the granting of payment and full release of responsibility (volledig acquisition et de charge) to members of the Board of Directors and Board of Commissioners who served for the management and supervision that had been carried out during the 2023 financial year.