JAKARTA - PT Pertamina (Persero) recorded brilliant achievements throughout 2021. Pertamina succeeded in transforming its business, increasing efficiency and production, carrying out the energy transition, as well as developing oil and gas infrastructure and the Refinery Development Master Plan (RDMP) refinery project.
Pertamina President Director Nicke Widyawati said that in 2021 Pertamina succeeded in transforming by forming an Oil and Gas Holding with 6 Subholdings, namely Subholding Upstream, Subholding Refining and Petrochemical, Subholding Commercial and Trading, Subholding Gas, Subholding Integrated Marine Logistics and Subholding New and Renewable Energy.
The success of this transformation has succeeded in driving the consolidated net profit (Audited) in 2021 of USD 2.046 billion or around IDR29.3 trillion. This figure has almost doubled compared to net profit in 2020 of IDR 15.3 trillion. This achievement also exceeded the 2021 RKAP target by 154%.
Pertamina's net profit is the consolidated profit of all subsidiaries from upstream, processing to downstream. Most of the profit was contributed by the upstream sector's revenue which also surged (windfall) due to the rising price of Indonesia Crude Price (ICP). The downstream sector is still under pressure from the high cost of fuel production, the largest component of which is crude oil.
In 2021, upstream oil and gas production will increase from the previous year, from 863 thousand barrels of oil equivalent per day (MBOEPD) in 2020 to 897 MBOEPD in 2021, so that Pertamina contributes more than 60% to national oil and gas production. In addition, with the massive drilling in the hands of Pertamina, the production of the Rokan Block has also increased. Various efficiency programs have also resulted in cost savings of USD 1.4 billion. (LM)