Pertamina Records Asset Growth Of Up To 32 Percent After Restructuring

Pertamina (Photo: dock. Antara)

JAKARTA - PT Pertamina (Persero) recorded significant asset growth after 4 years of restructuring. It is known that in the period 2020 until the end of 2023, Pertamina's assets grew significantly by 32 percent, which was 91.1 billion US dollars or equivalent to Rp1,390 trillion at the end of 2023.

PT Pertamina's Vice President of Corporate Communication (Persero), Fadjar Djoko Santoso, said Pertamina's asset growth was driven by increased fixed assets and expansion of oil & gas and geothermal properties managed by Pertamina Group.

"Since the restructuring of the organization, the financial and operational performance in all lines, both holding and subholding have become more solid and reliable, thus encouraging the growth of the Company's assets," said Fadjar, Friday, September 27.

Based on Pertamina's Annual Report in 2023, Pertamina's assets historically in 2020 were recorded at 69.14 billion US dollars, then grew to 78.05 billion US dollars in 2021.

The total assets rose again to USD 87.8 billion in 2022, and by the end of 2023 Pertamina's assets had reached USD 91.1 billion or approximately IDR 1.390 trillion.

"Pertamina will continue to optimize assets and operational excellence to encourage the Company's positive performance in a sustainable manner," added Fadjar.

Pertamina, said Fadjar, will continue to run the Cost Optimization program throughout the Pertamina Group to show that the company's business performance is more agile, agile and efficient.

"Success in asset optimization and efficiency plays a very important role in supporting the increase in company revenue and profit," said Fadjar.