Minister of State-Owned Enterprises Supports Pertamina’s Dual Growth Strategy to Achieve Energy Self-Sufficiency
Jakarta, January 20, 2024 —The Minister of State-Owned Enterprises (SOE) supports Pertamina’s business development plan with its Dual Growth Strategy, as outlined in its Long-Term Plan through 2029. This strategy aligns with the Asta Cita mission and program of the Prabowo–Gibran Administration to promote national independence through energy self-sufficiency.
Fadjar Djoko Santoso, Vice President of Corporate Communication of PT Pertamina (Persero), stated that the Minister of SOE, as Pertamina's shareholder, consistently supports Pertamina’s various business efforts to supply the energy needed by Indonesian citizens. This goal is achievable through the dual growth strategy, which maximizes Pertamina's legacy oil and gas business while building new, low-carbon renewable energy businesses.
“The Ministry of SOE supports the company's strategies and business plans to achieve national energy security and independence. Therefore, Pertamina encourages all its subsidiaries to pursue business and operational targets effectively and efficiently,” said Fadjar.
According to Fadjar, the dual growth strategy involves optimizing upstream oil and gas production, where Pertamina has already recorded an oil and gas production level of 1.05 million BOEPD (barrels of oil equivalent per day), consisting of 556,000 BOPD (barrels of oil per day) of crude oil production and 2.86 billion SCFD (standard cubic feet per day) of gas production. Pertamina continues to enhance its refinery upgrading efforts and build new refineries, including the Balikpapan refinery project, which has reached 92% completion.
“The refineries optimization undertaken by Pertamina has enabled Indonesia to achieve self-sufficiency in avtur and diesel fuel,” Fadjar added.
At the same time, Fadjar highlighted that Pertamina continues to serve the public’s fuel and LPG needs by expanding the One Price Fuel Program in 3T (remote, frontier, and outermost) areas, which now covers 573 locations. Additionally, Pertamina has established 6,703 Pertashop outlets for communities far from petrol stations and has ensured LPG distribution to 96% of villages in Indonesia through the OVOO (One Village, One Outlet) program. Digitalization efforts across all marketing infrastructures have also been enhanced.
In its low-carbon energy business development, Fadjar noted that Pertamina has installed a renewable energy capacity of 2,502 MW and geothermal production of 4.6 GWh. Furthermore, Pertamina is a pioneer in carbon trading in Indonesia, commanding a 95% share of the national market.
“By developing low-carbon businesses, Pertamina also supports the government’s decarbonization program to achieve the Net Zero Emission target by 2060,” Fadjar concluded.
Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social & Governance (ESG) implementation across all Pertamina's business lines and operations.**