Digitalization And Technology Research Are The Key To Pertamina's Positive Performance In 2023

Photo: Doc. PT Pertamina

JAKARTA - PT Pertamina (Persero) recorded positive performance in the 2023 financial year was supported by the transformation of digitalization and technological research innovation. Through these two breakthroughs, Pertamina was able to record positive performance in almost all business lines.

He admitted that Pertamina's extraordinary performance had received global recognition. One of the latest, Pertamina is listed as the third largest company in Southeast Asia according to Fortune 500 South East Asia.

President Director of PT Pertamina (Persero), Nicke Widyawati revealed that digitalization and technology research are the main keys to increasing Pertamina's performance. With digitization, Pertamina can manage businesses from upstream to downstream in an integrated manner.

"We have started using AI to process and analyze data more quickly so that decision-making can be carried out accurately," said Nicke in her statement, Sunday, June 23.

In addition, Nicke said that Pertamina also continues to develop research and technology to improve high-value products.

Meanwhile, Pertamina controls 24 percent of the upstream sector with a contribution to oil production of 69 percent and Gas 34 percent. Nicke said that the management of thousands of wells is carried out by digitizing and has been connected downstream.

Nicke explained that in 2023, Pertamina's Upstream Subholding succeeded in increasing oil and gas production by 8 percent. In addition, Pertamina also continues to increase new oil and gas reserves, both from existing oil and gas blocks and new oil and gas blocks.

"This is extraordinary, to increase oil and gas production, Pertamina drilled as many as 800 new wells. Therefore, 62 percent of Pertamina's investment was made upstream," he added.

Nicke conveyed that the brilliant performance was also shown by the processing sector, Pertamina's Refining & Petrochemical Subholding continues to maintain refinery productivity with a capacity of 1.025 million barrels per day.

According to Nicke, this performance has been extraordinary, because throughout 2023 refinery operations run without an unplanned operation (Unplanned Shutdown).

"This is not something that suddenly, but a five-year process where Pertamina has been revamping the refinery," he said.

Nicke said that Pertamina has also run nine projects to increase productivity, energy efficiency and increase refinery capacity.

According to Nicke, downstream by digitizing Pertamina's Subholding Commercial & Trading has succeeded in controlling subsidized fuel and LPG quotas and increasing sales of non-subsidized fuel by 2 percent, most of which are industries.

"This means that this is productive in encouraging the industry to grow better," he said.

For the transportation business, Nicke said that Pertamina's Integrated Marine & Logistic Subholding has operated 760 ships by continuing to expand its international business and currently through PIS, Pertamina has 50 international shipping routes. In 2023, the volume transported will reach 161 million KL, up 3 percent compared to 2022.

Nicke explained that the performance of business development by Gas Subholding also showed brilliant results. In 2023 the gas sales volume reached 337 thousand BBTU, an increase of 3 percent from the previous 327 thousand BBTU.

Nicke added that gas is Pertamina's mainstay in carrying out energy transitions and the development of gas infrastructure will accelerate the energy transition in Indonesia.

"The key to the energy transition is in the gas because it is an intermediary from fuel to renewable energy," said Nicke.

Nicke said that through Power & NRE Subholding, Pertamina also managed to increase net energy production by 17 percent to 5,452 GWh from the previous 4,659 GWh.

"Last year PNRE succeeded in completing a gas project that was integrated with regasification as large as in Southeast Asia, namely PLTGU Jawa 1 as many as 2 units with a capacity of 880 MW each," said Nicke.

In addition to positive performance, Pertamina also runs its business process from upstream to downstream by being more environmentally friendly. Pertamina managed to reduce carbon emissions by 34 percent, higher than the target set by the government by 31.89 percent. As a result, Pertamina's ESG rating managed to rank first in the world in the Integrated Oil and Gas sub-industry.