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Laporan ManajemenManagement ReportProfil PerusahaanCompany ProfileAnalisa & Diskusi ManajemenManagement Discussion & AnalysisIkhtisar 20202020 HighlightsPT Pertamina Hulu Energi2020 Laporan Tahunan TerintegrasiIntegrated Annual Report 222TINJAUAN OPERASI PER SEGMEN USAHA Operation Overview per Business SegmentDescription of Production Costs and Operating CostsThe realization of production costs in 2020 reached USD9.73 per barrel of crude oil equivalent (BOE), lower by USD1.70 per BOE or 14.88% of the RKAP target of USD11.43 per BOE. The realization of operating costs including depreciation reached USD17.87 per BOE, lower by USD1.24 per BOE or 6.51% of the RKAP target of USD19.12 per BOE.Factors that affect production costs and operating costs include:%u2022 Production costs include a reclassification of production costs to operating costs as a result of the application of PSAK 73 which recognizes use rights assets.%u2022 General & administration costs include lower G&A Oil and gas (Personnel expenses) compared to the RKAP impact of the Work From Home pandemic Covid-19.OPERATION REVIEW ON BUSINESS CONSULTING AND PORTFOLIO MANAGEMENT BUSINESS SEGMENT PHE manages and develops portfolio on all subsidiaries, joint ventures, and affiliations operating in upstream and downstream business activities, both in the country and overseas. Up to the end of 2020, PHE managed 57 subsidiaries with various business criteria, namely various partnerships, PSC timing, and PSC terms and resources. Various business criteria in each Subsidiary requires an integrated portfolio of PHE. Portfolio management aims to maximize value of each asset, determine balance in each project, ensure the conformity of portfolio management to main corporate strategies, and Uraian Biaya Produksi dan Biaya Operasi Realisasi biaya produksi pada tahun 2020 mencapai USD9,73 per barel setara minyak mentah (BOE), lebih rendah USD1,70 per BOE atau 14,88% dari target RKAP sebesar USD11,43 per BOE. Realisasi biaya operasi include depresiasi mencapai USD17,87 per BOE, lebih rendah USD1,24 per BOE atau 6,51% dari target RKAP sebesar USD19,12 per BOE.Faktor-faktor yang mempengaruhi biaya produksi dan biaya operasi meliputi:%u2022 Biaya produksi terdapat reklasifikasi biaya produksi ke biaya operasi dampak penerapan PSAK 73 yang mengakui aset hak guna.%u2022 Biaya general & administration terdapat biaya G&A Oil dan gas (Personel expense) lebih rendah disbanding RKAP dampak dari Work From Home pandemi Covid-19.TINJAUAN OPERASI SEGMEN USAHA KONSULTASI BISNIS DAN MANAJEMEN PORTOFOLIOPHE mengelola dan mengembangkan portofolio atas seluruh Anak Perusahaan, perusahaan patungan dan perusahaan afiliasi yang bergerak di dalam usaha hulu dan kegiatan usaha hilir, baik di dalam maupun luar negeri. Sampai dengan akhir tahun 2020, PHE mengelola 57 Anak Perusahaan dengan berbagai kriteria bisnis, yaitu various partnership, PSC timing, PSC terms dan resources.Berbagai kriteria bisnis pada masing-masing Anak Perusahaan membutuhkan bentuk portofolio PHE yang terintegrasi. Pengelolaan portofolio bertujuan memaksimalkan value setiap aset, menentukan keseimbangan setiap proyek, memastikan pengelolaan