Not Only Operational Performance, Pertamina Hulu Energi Continues to Demonstrate Excellent Performance Towards a World-Class Company

Jakarta, August 9, 2023 - PT Pertamina Hulu Energi (PHE), a Subholding Upstream of Pertamina, continues to prove its excellent performance until the first half of 2023. Until June 2023, PHE recorded oil production of 570 thousand barrels per day (MBOPD) and gas production of 2757 million standard cubic feet per day (MMSCFD), resulting in a total hydrocarbon production of 1046 thousand barrels of oil equivalent per day (MBOEPD), an 8% increase from the previous year.

This achievement is supported by the completion of the work plan for drilling seven exploration wells, 359 development wells, 371 workovers, and 16,286 well services. Additionally, PHE also conducted a 3D Seismic survey covering 478 km2.

"PHE will strive to maximize its contribution to the nation and the increase in state revenues, foreign exchange, and regional economy," stated Arya Dwi Paramita, Corporate Secretary of PHE.

To date, PHE has achieved strategic milestones, including obtaining exploration WK awards with the majority of gas resources in Peri Mahakam & Bunga located in the eastern part of Indonesia, East Natuna in the border area of Indonesia-Malaysia-Vietnam, and the national strategic project Masela. The gas exploration discovery in Wilela, Wolai complex, and Mantapu 1-X also supports a new phase of energy resilience and the national gas transition.

One of the strategic projects that has been undertaken is the drilling of Non-Conventional Oil and Gas Wells (MNK) located in the Gulamo Field, Tanah Putih District, Rokan Hilir Regency, Riau, at the end of July 2023.

Through the International Region led by PT Pertamina Internasional EP, Pertamina’s Upstream Subholding has also recently succeeded in obtaining a new contract extension in Menzel Lejmat Nord (MLN), Block 405 in Algeria. This oil and gas block has a permit for the LPG plant construction with a capacity of one million metric tons per year, the production of which can be brought to Indonesia as part of the company's commitment to national energy fulfillment.

These achievements are based on PHE's main strategy in managing baseline production, increasing production growth through work plans and mergers & acquisitions, and enhancing reserve & resource growth while always prioritizing HSSE (Health, Safety, Security, and Environment) as well as Environmental, Social, and Governance (ESG) aspects.

Fadjar Djoko Santoro, Vice President of Corporate Communication of PT Pertamina (Persero), added that Pertamina appreciates PHE's efforts in achieving oil and gas production targets. The increase in production in the first half of 2023 compared to the previous year reflects the effective operational efforts carried out by PHE. "We hope that PHE, as Pertamina’s Upstream Subholding, will continue to enhance exploration to support the one million barrels per day target achievement, while also expanding its business and implementing ESG aspects to become a sustainable world-class oil and gas company," Fadjar explained.

Currently, PHE has been a participant/member of the United Nations Global Compact (UNGC) since June 2022. PHE is committed to the Ten Universal Principles of the UNGC in its strategy and operations as part of the ESG aspects implementation. PHE will continue to develop professional operation management both domestically and internationally to achieve the goal of becoming an environmentally friendly, socially responsible, and well-governed world-class oil and gas company.