Jakarta, PT Pertamina (Persero) recorded the realization of the company’s investments until October 2024, reaching US$ 4.7 billion or around Rp 74.83 trillion. (kurs Rp 15.922). Of the realized investments, the largest portion was directed towards the upstream oil and gas sector. (migas).
The Deputy President Director of PT Pertamina (Persero), Wiko Migantoro, revealed that the investment was made amidst the significant challenges faced in the midstream business, particularly in the refinery sector. This is also reflected in the many refineries around the world that have to struggle to operate.
“To support this, in 2024 we have already spent an investment of US$ 4.7 billion,” said Wiko during a Hearing Meeting with Commission VI, Tuesday (3/12/2024).
Wiko explained that the investment of US$ 4.7 billion was mostly directed towards upstream oil and gas activities that directly contribute to the increase in oil production.
“The largest portion is prioritized for upstream activities that produce oil, we will explain below how we manage upstream,” he said.
On the other hand, Wiko revealed that his company is also committed to improving efficiency as part of the holding-subholding spirit. Throughout 2024, for example, the company has successfully achieved cost optimization amounting to US$ 780 million, consisting of cost-saving activities, cost affordance, and revenue generators.
“Of course, as the spirit of holding-subholding, we continue to pursue efficiency, where in 2024 we have already recorded cost optimization amounting to 780 million dollars,” he said.
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