Pertamina Achieved Success Through Its Unlock Value Program
- Pertamina
Jakarta – Throughout 2023, Pertamina successfully implemented the Unlock Value program across several subholdings and subsidiaries.
Unlock Value is Pertamina's flagship program aimed at enhancing the performance of its subsidiaries by leveraging their strengths.
Vice President of Corporate Communication, Fadjar Djoko Santoso, stated that after the Covid-19 pandemic, 2023 has become a growth moment for various industries worldwide.
"Through this Unlock Value program, we encourage subholdings and subsidiaries to engage in corporate actions to fully capitalize on this growth momentum," he said in an official statement.
Some of the Unlock Value initiatives in 2023 include the initial public offering (IPO) of Pertamina Geothermal Energy on February 25, 2023.
This IPO was one of the largest corporate actions on the Indonesia Stock Exchange (IDX) in 2023 and attracted international investors' attention due to PGE's focus on clean geothermal energy, aligning with global aspirations to address climate crisis challenges.
Additionally, Pertamina, through its Subholding Pertamina New and Renewable Energy (PNRE), is ready to become a market leader in carbon trading in Indonesia.
This commitment was affirmed by Pertamina at the launch of the IDX Carbon Exchange in Jakarta, by President Joko Widodo (Jokowi), on September 26 last year.
Pertamina is also boosting its energy transition business. One notable initiative is the maiden flight of a commercial aircraft using environmentally friendly fuel, Sustainable Aviation Fuel (SAF) or BioAvtur.
SAF is produced by Kilang Pertamina Internasional and will be commercialized by Pertamina Patra Niaga, representing the future of sustainable aviation industry.
"SAF is evidence of SOEs' collaboration in emission reduction efforts and supporting the achievement of Net Zero Emission targets," he remarked.
Meanwhile, Pertamina's healthcare subsidiary, Pertamina Bina Medika - Indonesia Healthcare Corporation, has completed the topping-off ceremony for the construction of Bali International Hospital (BIH).
BIH will be an international-class hospital in the Special Economic Zone (KEK) Health area in Sanur, Bali.
Pertamina continues to innovate. In 2023, four research products reached the commercialization stage, and eight new Intellectual Property Rights (IPR) were registered.
Santoso added that digitalization is a strategic key for integrated management to enhance Pertamina's business services.
Digital innovations in 2023 include optimizing fuel and LPG stock and supply, which has led to efficiencies in the distribution of subsidized fuel and LPG.
Digital utilization is also being applied to enhance reliability and mitigate unplanned shutdowns at Pertamina's refineries.
"Pertamina's digital advancements support efficiency, decision-making processes, security and reliability, and the enhancement of all Pertamina's business services to the public," Santoso said.
As a leading company in energy transition, Pertamina is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the achievement of Sustainable Development Goals (SDGs).
All these efforts align with the implementation of Environmental, Social & Governance (ESG) principles across all of Pertamina's business lines and operations.
