Pertamina EP Cepu Net Profit Increases 197 Percent in 2017

By : Hariyanto And Aldo Bella Putra | Sunday, March 25 2018 - 17:00 IWST

Ilustrasi Pertamina EP
Ilustrasi Pertamina EP

INDUSTRY.co.id - Jakarta -  In 2017, PT Pertamina EP Cepu (PEPC) booked a net profit of US $ 662.2 million, an increase of 197% compared to 2016 profit of US $ 222.7 million.

This was revealed by PEPC President Director Jamsaton Nababan at the General Meeting of Shareholders (AGM) at Pertamina EP Head Office Cepu, Jakarta, on Wednesday (21/3/2018).

It also became the largest milestone for PEPC, making PEPC the first largest profit contributor in the upstream subsidiary (APH).

"In 2017, PEPC's performance is very good, the company also gets AAA's health point, the highest point for corporate health, it's an achievement that will encourage PEPC's spirit to be even better in 2018," Jamsaton said.

In addition, PEPC also succeeded in increasing the Banyu Urip Field oil production from the average production of 2016 by 171,107 BOPD to 203,521 BOPD production averages by 2017.

The main focus of PEPC in 2018 is the achievement of the Banyu Urip Field production target and the implementation of the Field Gas Development Project of the Unitization of Tiung Biru Field, especially for EPC Gas Processing Facilities (GPF).

According to Jamsaton, the performance of last year could be a reference in order to maintain and improve the achievement. "This is our joint challenge, not just production, but also lifting problem because we only have one lifting point in Gagak Rimang, with increasing lifting activies, the risks are also increasing, such as bad weather," he said.

The second challenge is the JTB project to be on-stream in 2021 and able to maintain its economic value and meet the needs of Industrial Gases in East and Central Java.

"My hope PEPC will work harder, more solid, we work together, so target target from Persero to PEPC can be achieved, we can donate to the Persero as much as possible," he concluded.

News Comment

Today's Industry

 AICPA and CIMA (the Association)

Jumat, 07 Oktober 2022 - 16:55 WIB

AICPA & CIMA executives urge Indonesian accounting and finance professionals to seize the opportunity presented by the environmental societal and governance agenda

The leaders of the world’s largest body of accountants and finance professionals, AICPA & CIMA, urged the accounting and finance community in Indonesia to take the lead in guiding businesses…

Asahi Kasei Europe GmbH

Kamis, 06 Oktober 2022 - 21:26 WIB

Mercury-free UVC disinfection – Asahi Kasei demonstrates how Crystal IS UVC LED technology can be applied to achieve higher disinfection efficiency in water treat- ment than conventional mercury lamp

Asahi Kasei, a diversified Japanese multinational company, and subsidiary Crystal IS have concluded in a bacterial perfor- mance test, an experimental Klaran™ WR water treatment reactor demonstrated…

PT Buyung Poetra Sembada Tbk (“HOKI”)

Kamis, 06 Oktober 2022 - 20:00 WIB

HOKI Targets to Open 80 WarungKoki Outlets by the End of this Year

PT Buyung Poetra Sembada Tbk (“HOKI”), an issuer of quality rice producers under the “Topi Koki” and “HOKI” brands, targets the growth of WarungKoki outlets by 80 outlets by the…

(Photo: © 2022 KRAIBURG TPE)

Kamis, 06 Oktober 2022 - 18:12 WIB

TPEs shine in lipstick packaging

KRAIBURG TPE, a global TPE manufacturer of thermoplastic elastomer products and custom-engineered materials solutions, offer the THERMOLAST® K FC/LF and FC/AD/PP series of compounds for lipstick…

Deputy Minister of Culture, Sports and Tourism, Mr. Doan Van Viet

Kamis, 06 Oktober 2022 - 17:30 WIB

Deputy Minister Outlines Viet Nam’s Tourism Priorities

Ahead of the Mekong Tourism Forum in Quang Nam, Central Viet Nam, 12-13 October, Mr Doan Van Viet, Viet Nam’s Deputy Minister of Culture, Sports and Tourism, outlines the vision and latest…