Pertamina Upstream Subholding Synergizes for World-Class Oil and Gas Operations

• 12 Jul 2024
• mk.novian.kusmana

Bali – In a strategic move to achieve the company’s goal of “Bring Barrels Home and Bring Values Home,” Pertamina Hulu Energi (PHE) Upstream Subholding subsidiary, PT Pertamina Internasional Eksplorasi dan Produksi (PIEP), has initiated the signing of a Memorandum of Understanding (MoU) with PT Pertamina Drilling Services Indonesia (PDSI) and PT Elnusa Tbk. This MoU aims to explore cooperation in upstream oil and gas operations in overseas working areas. PIEP was appointed by Pertamina's Upstream Subholding as the agent of overseas synergy among Pertamina subsidiaries, given its management of oil and gas blocks in Algeria, Iraq, Malaysia, and several other countries.

The MoU was signed by Jaffee A. Suardin, President Director of PIEP; Avep Disasmita, President Director of Pertamina Drilling; and Bachtiar Soeria Atmaja, President Director of Elnusa. The signing was witnessed by Awang Lazuardi, Director of Development and Production at PHE, and Chandra W Sukotjo, Commissioner of PIEP, on Friday, June 21, 2024.

On this occasion, Awang Lazuardi remarked, “The synergy between these subsidiaries is a positive development. Through this cooperation in overseas oil and gas operations, we aim to enhance business continuity, sustainable national energy security, and provide added value and profit for the domestic upstream oil and gas industry.”

Jaffee A. Suardin, President Director of PIEP, expressed his enthusiasm, stating, “This collaboration not only strengthens ties between Upstream Subholding subsidiaries in upstream oil and gas exploration and production services in overseas working areas but also underscores Pertamina's aspirations to be a world-class company.”

He added that this partnership would increase oil and gas assets, demonstrating Pertamina subsidiaries’ adaptability to future business development challenges. Furthermore, Pertamina employees are encouraged to continuously develop their competencies to support the company’s dynamic growth, meeting the expectations of shareholders and stakeholders through operational excellence, HSSE (Health, Safety, Security, and Environment), Good Corporate Governance principles, and Environmental, Social, and Governance (ESG) standards.

PIEP was established to manage international assets, focusing on overseas assets owned by PT Pertamina (Persero). Founded on November 18, 2013, PIEP specializes in acquiring and managing overseas oil and gas fields and exploring new oil and gas sources in various countries. The objective is to fulfill domestic oil and gas needs and support national energy security. Currently, Pertamina’s overseas oil and gas field assets are spread across 12 countries, including Algeria, Malaysia, Iraq, France, Italy, Namibia, Tanzania, Gabon, Nigeria, Colombia, Angola, and Venezuela.
 

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