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Pada tahun 2020, PHE ditetapkan menjadi Subholding Upstreamsejalan dengan perubahan PT Pertamina (Persero) sebagai HoldingBUMN Migas. Penetapan PHE Subholding Upstream berdasarkan Surat Keputusan Direksi No. Kpts-19/C00000/2020-S0 tertanggal 16 Juni 2020. Sesuai dengan Keputusan Pemegang Saham Secara Sirkuler pada tanggal 1 September 2021 tentang Implementasi Pembentukan (Legal End-State) Subholding Upstream, dengan demikian, PHE melakukan pengambilalihan seluruh saham milik PT Pertamina (Persero) atas 11 Anak Perusahaan Hulu dari PT Pertamina (Persero). PHE Subholding Upstream mengelola WK berdasarkan 5 (lima) Regional dengan mempertimbangkan aspek volume produksi, regional, dan kompleksitas operasional. PHE Subholding Upstream berperan sebagai planner, validator, dan policy maker. Sementara itu, Regional akan berfokus pada optimizer dan integrator serta peningkatan keamanan, produksi, dan sumberdaya migas. Hingga akhir tahun 2023, PHE Subholding Upstream terdiri atas 69 entitas anak. Selain itu, PHE Subholding Upstream juga memiliki 6 (enam) perusahaan joint venture.In 2020, PHE was stipulated as Subholding Upstream in line with the change of PT Pertamina (Persero) as Oil and Gas State-Owned Enterprise Holding. The stipulation of PHE Subholding Upstream by virtue of Decision Letter of Directors No. Kpts-19/C00000/2020-S0 dated June 16, 2020. In compliance with the Circular Resolution of Shareholders of September 1, 2021 concerning Implementation of Establishment (Legal End-State) of Subholding Upstream, thus, PHE acquired all shares owned by PT Pertamina (Persero) in 11 Upstream Subsidiary Companies from PT Pertamina (Persero). PHE Subholding Upstream manages the block based on 5 (five) Regionals with a view to the aspect of production volume, the regional concerned, and operational complexity. PHE Subholding Upstream has the role of planner, validator, and policy maker. At the same time, Regional focuses on the role as optimizer and integrator as well as on enhancing security, production, and oil and gas resources. Up to the end of 2023, PHE Subholding Upstream has consisted of 69 subsidiary entities. In addition to that, PHE Subholding Upstream also owns 6 (six) joint venture companies.Struktur Kelompok Usaha Holding BUMN Migas, PT Pertamina (Persero)The Business Group Structure of the State-Owned Oil and Gas Holding Company, PT Pertamina (Persero)PT Pertamina (Persero)Holding BUMN MigasAP/ Service Portofolio Gas SubholdingIntegrated Marine Logistic SubholdingPower & NRE SubholdingUpstream SubholdingRefining & Petrochemical SubholdingCommercial Trading SubholdingKegiatan Eksplorasi dan ProduksiExploration and Production ActivitiesRegional 1 SumatraRegion 1 SumatraRegional 2 JawaRegion 2 JavaRegional 3 KalimantanRegion 3 KalimantanRegional 4 Indonesia TimurRegion 4 East IndonesiaRegional 5InternasionalRegion 5 InternationalKegiatan Non Eksplorasi dan ProduksiNon-Exploration and Production ActivitiesPT Elnusa Tbk PT PDSI PT Badak NGLPT Pertamina Hulu Energi %u2022 Annual Report 83