PERTAMINA EP |

Pertamina EP oil and gas production, once again, reach the highest record. It reached 136,504 barrel per day or 11,004 barrel higher than the target for 2009 which is 125,500 barrel per day. This record has completed Pertamina oil production level that reached 184,158 barrel per day including 47,654 barrel per day additional production from Pertamina Hulu Energi (PHE).

This achievement shows the success of Pertamina transformation in the upstream sector to focus on fiding new reserves and increase its oil production by implementing new breakthrough projects.

The result has given Pertamina higher self confidence to be the leading oil and gas producer in Indonesia that has the capabilityto increase its oil and gas production.

Other than oil, Pertamina gas production also shows a positive achievement. Pertamina EP contributes 1,090 MMSCFD (million standard cubic feet per day) and PHE contributes 365 MMSCFD. Therefore the total gas production of Pertamina is 1,455 MMSCFD. This achievement is 15.8% higher than the target set for 2009 which is 1,256 MMSCFD. By maintaining at this level, Pertamina EP, as well as PT Pertamina (Persero), are optimist to go over the 2009 target.

Pertamina is the biggest gas producer in Indonesia for domestic supply. From the total number, 28% is supplied to National Gas Company (PGN), 22% is supplied for industrial needs, 18% for fertilizer industry, 18% is supplied to power plant, and 14% for Pertamina refinery and other own use. Pertamina EP oil production continue to increase since 2003 with the capital average gross ratio (CAGR) 3,1% from the production level of 95,6 thousand barrel per day (MBOPD) in 2003 increased up to102.2 MBOPD in 2006. The production grew around 6.7% in 2007 and it is increased up to 110.3 MBOPD. While in 2008 the production was risen up to 116.6 MBOPD. In 2009 Pertamina EP targeted the oil production growth around 6.2% with its target 125.5 MBOPD. As a subsidiary of Pertamina, Pertamina EP carries out the upstream oil and gas activities in Indonesia that covers exploration, exploitation, and the sales of oil and gas produced from its fields.Pertamina EP is also the value creator for its holding company. Pertamina EP profit before tax is increasing. In 2006, the profit is Rp. 11.29 trillion, in 2007 is Rp 15.16 Trillion, and in 2008 is Rp 19.08 Trillion. It contributes more than 70% of its holding’s total profit.

Pertamina EP is optimist to be able to increase its oil and gas production. Based on the facts, at present, Pertamina EP is the second biggest oil producer after Chevron and the second biggest gas producer after Total Indonesia.