Indonesia Energy Ministry: Entered in the Fortune Global 500 List, Pertamina’s Achievements are Appreciated

PT Pertamina (Persero) listed its name as the only Indonesian company included in the 2021 Fortune Global 500 list. This achievement is proof that all stakeholders work together and encourage Pertamina as a State-Owned Enterprise (BUMN) for oil and gas (oil and gas). ) can be on par with the world’s best companies.

Head of the Bureau of Communication, Public Information Services and Cooperation of the Ministry of Energy and Mineral Resources (ESDM) Agung Pribadi said that in addition to successfully fulfilling the task and mandate of ensuring the availability of energy in the country, Pertamina was also able to demonstrate its quality as a national oil and gas SOE.

“In the midst of the Covid-19 pandemic, the challenges faced by the energy sector, especially the oil and gas industry, are not easy. This achievement shows that Pertamina has succeeded in creating an innovative and adaptive work environment,” said Agung, in Jakarta, Tuesday (3/8).

Furthermore, Agung revealed that in the future the Government has specific targets in the oil and gas sector, including Indonesia’s oil and gas production target in 2030 to reach 1 million barrels of oil per day and 12,000 mmscfd of natural gas per day. Likewise with the increase in oil refinery capacity.

“As the message of the Minister of Energy and Mineral Resources Arifin Tasrif, extraordinary efforts are needed by all upstream oil and gas industry players in order to achieve the program, including Pertamina. Likewise with the national oil and gas production level, the Minister of Energy and Mineral Resources gave a special mandate to transfer the management of the Rokan Work Area from PT Chevron Pacific Indonesia (CPI) to PT Pertamina Hulu Rokan (PHR) is going well, the level of oil production in this block is also maintained,” explained Agung.

As is known, Pertamina is the only Indonesian company included in the Fortune Global 500 list. With a company revenue value of US$ 41.47 billion in the 2020 financial year, Pertamina is in position 287.

“Thank you to all stakeholders because Pertamina’s achievements cannot be separated from the positive support of various parties, both the Board of Directors, the Board of Commissioners and all Pertamina Group employees, as well as shareholders, the government, the community and other stakeholders. This is also an international recognition that Pertamina is equal with other world class companies,” said Pertamina’s President Director, Nicke Widyawati, as quoted from the Pertamina website.

Nicke said that in the challenges of the pandemic since last year, Pertamina experienced a triple shock, resulting in a significant decline in revenue. However, with innovations and business breakthroughs carried out in all business lines and the ongoing organizational transformation, Pertamina was able to increase the company’s revenue to US$ 41.47 billion and make a profit of US$ 1.05 billion in 2020.

As a state-owned company, Pertamina is also consistent in ensuring the supply of energy for the country through various programs, including One Price Fuel, Conversion of BBM to BBG for Fishermen and Farmers, construction of Natural Gas Transmission & Distribution Networks, and other Downstream Infrastructure.

With an energy ecosystem from upstream to downstream, Pertamina maintains the survival of 1.2 million direct workers, as well as the multiplier effect on around 20 million workers indirectly.

The Fortune Global 500 ranking is an annual event conducted by Fortune magazine since 1955. The main benchmark is the amount of revenue, including consolidated gross revenue. Other indicators are shareholder equity participation, market capitalization, profits, number of employees, and since 1990 the company’s country of origin indicator is also considered in the Fortune Global 500. (RZ)