Pertamina Hulu Rokan expounds on Wetlands Innovation at COP28

DUBAI, Dec 5, 2023 – (ACN Newswire) – PT Pertamina Hulu Rokan (PHR) presented innovations in creating wetlands to manage wastewater produced from its operational activities at COP28 on Friday. PHR’s innovations, which were implemented to support the achievement of net zero emissions (NZE) by 2060, were presented at the 2023 UN Climate Change Summit, or Conference of the Parties (COP28), in Dubai, United Arab Emirates (UAE), on Friday (12/01).

PT Pertamina Hulu Rokan (PHR) present its innovation in constructing wetlands to manage water waste produced from its operational activities at COP28. (Antara / HO-Pertamina) — PT Pertamina Hulu Rokan (PHR) presented its innovation in constructing wetlands to manage wastewater from its operational activities at COP28. (Antara / HO-Pertamina)

PHR Vice President, Facility Engineering, Erwin Sinisuka explained that nature-based solutions (NBS) were employed to manage wastewater produced by Pertamina’s energy production processes. Wastewater management was carried out using constructed wetlands based on hydro technology, where wetlands are formed using a hydraulic loading rate technique, so that wastewater management simply used gravity.

PHR Vice President of Facility Engineering Erwin Sinisuka. (ANTARA/HO-PERTAMINA)

Erwin said the development of wetlands were part of the effort towards environmentally friendly operations, in accordance with environmental standards of the Ministry of Environment and Forestry. The session, ‘Unlocking the Potential of Nature Based Solutions, for Adaptation and Mitigation of Climate Change’ was held at the Indonesian Pavilion, COP28, on Friday.

PHR has built constructed wetland covering an area of 5,000 m2 in one of its Rokan Block work areas. The wetland is the company’s pilot waste management project, while it is developing 14 wetland construction projects in its work areas.

The wetland has reduced emissions by 1,341 tCO2eq from January to October 2023, and has reduced wastewater discharge, which reached 11,30 barrels per day (bwpd) before construction, whereas now it is only 7,217 bwpd.

Constructed wetlands are not only for waste management but can provide more significant benefits for the community. “The community will always be our focal point, as their involvement can be the key to successful wetland management,” Sinisuka said.

PHR collaborates with local communities to manage these wetlands. The buffer materials and plants used at this location come from local sources, including coconut fiber, which is used as a filter. Apart from that, the community can use filtered water, he said.

Vice President of Upstream Business Operational Excellence, Health, Safety, and Environment, PHR I, Nyoman Widaryantha Naya added that this artificial wetland also becomes a water absorption area, which can reduce the risk of flooding “This constructed wetland also has many other benefits for the community. Residents are also now using the area as a small-scale transportation route by boat,” Widaryantha said.

In a similar session, the Deputy for Environmental and Forestry Management Coordination at the Coordinating Ministry for Maritime Affairs and Investment, Nani Hendiarti, stated that Indonesia has great potential to develop NBS, where 15 percent of the world’s NBS potential is in Indonesia.

Seeing these various potentials, the government is developing a blue carbon roadmap. Presidential Regulation 98 (2021) concerning the Economic Value of Carbon strengthens the optimization of blue carbon. “We will also include the marine sector and blue carbon in the nationally determined contribution targets,” Hendiarti said.

The Director General of Marine Spatial Management, Ministry of Maritime Affairs and Fisheries, Victor Gustaaf Manopo, said that blue carbon is part of climate adaptation through ecosystem resilience.

The event was also attended by Assistant Deputy Secretary, UAE Ministry of Climate Change and Environment, Mohamed Salman Alhammadi; Senior Natural Resources Management Specialist, World Bank, Ambroise Beriner; President Director, Sucofindo, Jodi Triananda Hasjim; and Executive Director, Tropical Forest Alliance, World Economic Forum, Jack Hurd.

As a leading company in the energy transition sector, Pertamina is committed to supporting the 2060 Net Zero Emission targets and continues to encourage programs that impact the achievement of Sustainable Development Goals (SDGs). These efforts align with implementing environmental, social, and governance (ESG) in all Pertamina business lines and operations.

PERTAMINA, https://www.pertamina.com

Media Contact
Sonitha Poernomo
Manager Corporate Communications
PT Pertamina Hulu Rokan (PHR)
M: +62 811-851-9273
E: sonitha.poernomo@pertamina.com

Pertamina Reaffirms its Commitment to Net Zero Emissions by 2060

JAKARTA, Dec 4, 2023 – (ACN Newswire) – President Director of PT Pertamina (Persero) Nicke Widyawati reiterated Pertamina’s commitment to supporting the Indonesian Government in achieving net zero emissions by 2060 at the 2023 UN Climate Change Summit or Conference of the Parties (COP-28), being held in Dubai, the United Arab Emirates, from November 30 to December 12, 2023.

President Director of PT Pertamina (Persero) Nicke Widyawati (second left) during the 2023 UN Climate Change Summit (COP-28), taking place in Dubai, UAE. [Antara / HO-Pertamina]

In a discussion session at the Indonesian Pavilion, Widyawati explained that Indonesia faces an energy trilemma with three main issues: energy security, equality, and sustainability. To deal with these three issues, Pertamina has developed three comprehensive strategic initiatives: decarbonization of the company’s operations (scope 1), building new low-carbon businesses (scope 2), and implementing a carbon offset program (scope 3).

As a developing country, she said that Indonesia targets stable economic growth where energy catalyzes economic growth. Therefore, as a state-owned enterprise (BUMN), Pertamina places energy security as a top priority. However, Pertamina must manage the balance for energy equality, which includes energy accessibility, affordability, and energy sustainability in reducing carbon emissions in our operations for scopes one, two, and three, Widyawati said.

She said that Indonesia is not ready to switch all fossil fuels to renewable energy, as this would endanger national energy security. Therefore, Pertamina has developed initiatives for managing sustainability while maintaining energy security and strengthening energy equality.

Pertamina must maintain its primary business, oil and gas, because the Indonesian government aims to increase upstream oil and gas production from 700,000 barrels per day to 1 million barrels per day in 2030. But this is done using a green operation method, she said.

Pertamina is carrying out three initiatives towards energy efficiency, as it is essential and more manageable for reducing emissions. The contribution of energy efficiency to reducing emissions is around 39 percent. That is why we focus on energy efficiency in our operations: upstream, processing, and downstream, Widyawati said.

Next is methane reduction. Methane can destroy the environment, which is worse than CO2 emissions. That is why we have set a target of a 7.6 percent reduction in methane, with carbon emissions (CO2) reduced by 5.5 percent and flare reduction and its utilization by 16.7 percent, she said. From these three operations through the end of last year, Pertamina successfully reduced 31 percent of emissions in its internal operations.

The second initiative is to increase the development of low-carbon products by producing biofuels. Indonesia is the eighth-largest country with forests, so Indonesia can produce biofuel. With the 35 percent biodiesel (B35) program last year, we reduced around 32 million tons of CO2 annually. We will add more B35 now and introduce the 40 percent biodiesel (B40) next year. Even in our new national energy policy, the target is up to 60 percent biodiesel (B60), Widyawati said.

Pertamina has a bio gasoline program that mixes bioethanol from sugar cane, corn, and cassava into gasoline. Pertamina will start with a bioethanol blending level of 5 percent (E5), and in the Indonesian National Energy Policy, it will gradually increase to a bioethanol blending level of 40 percent (E40). Regarding this biofuel, Pertamina has just launched sustainable jet fuel (Sustainable Efficient Fuel), which is mixed with crude palm oil (CPO).

Therefore, this program is the best option for Indonesia. There are three main benefits. First, we can reduce fuel imports through biofuel. Second, we can reduce emissions. And the third is creating jobs in upstream sectors, Widyawati said.

The third initiative is carbon offsetting. Even though fossil fuels and coal-fired power plants still exist, Pertamina must reduce emissions through carbon capture, utilization, storage, and nature-based solutions (NBS). She said the current capacity to absorb emissions from the global environment is up to 15 percent.

Carrying out these various initiatives, she said, Pertamina faces four challenges. The first is the regulatory framework to accelerate the development of renewable energy. The second challenge is related to technology, as Indonesia needs technology for all its abundant natural resources that can be used to produce energy. The next challenge is financial because Indonesia needs funding, especially for the initial stages of research and development. The fourth challenge is building capabilities and capacity. We believe that we need global collaboration to overcome these challenges, especially from governments, Widyawati said.

The Director General of Electricity, Ministry of Energy and Mineral Resources, Jisman P Hutajulu, invited all stakeholders to encourage the energy transition by utilizing New, Renewable Energy. The development of EBT in this energy transition is for the long term, Jisman said on the sideline of a discussion themed “Increasing Ambitions in Renewable Energy Targets for NDC Acceleration” on Thursday (Nov 30).

As a leading company in the energy transition sector, Pertamina is committed to supporting the 2060 Net Zero Emission target by continuing to encourage programs that directly impact the achievement of Sustainable Development Goals (SDGs). These efforts align with implementing Environmental, Social, and Governance (ESG) in all Pertamina business lines and operations.

PERTAMINA, https://www.pertamina.com

Media Contact:
Fadjar Djoko Santoso
Vice President, Corporate Communication, PT Pertamina (Persero)
E: fadjar.santoso@pertamina.com

PIS and KARPOWERSHIP Forge a Strategic Partnership for Sustainable Energy Infrastructure

DUBAI, Dec 2, 2023 – (ACN Newswire) – Pertamina International Shipping (PIS) and KAPOWERSHIP are proud to announce the formalization of a groundbreaking General Partnership Agreement (GPA) to develop critical energy infrastructure in Indonesia.

The partnership was formalized during the COP28 in Dubai, Friday (1/12), signifying the parties’ joint commitment to providing cleaner, more accessible energy solutions on a global stage.

The agreement, signed by CEO of PIS Yoki Firnandi, and DoÄŸan Karadeniz, founding partner of KARPOWERSHIP. The signing moment was witnessed by President Director of PT Pertamina (Persero) Nicke Widyawati and Rabin Indrajad Hattari, the permanent secretary at the State-Owned Enterprises (SOE) Ministry of Indonesia.

Under the GPA, both entities will join forces to explore and implement various initiatives aimed at advancing the energy landscape in Indonesia and beyond. The key focus areas include power generation opportunities with a special focus on cutting-edge Powership technology; unlocking gas assets through liquefaction with a great potential of a Floating Liquefied Natural Gas (FLNG) development and deployment; collaborating on LNG infrastructural projects including Floating Storage and Regasification Units (FSRUs) and small-scale LNG distribution.

Both parties will also work together on extensive studies for the development of alternative fuel sources, including hydrogen, ammonia, methanol, and other biofuels. This reflects a shared commitment to exploring sustainable, cleaner energy solutions.

Nicke Widyawati, President Director of PT Pertamina (Persero), highlighted this collaboration between PIS and KARPOWERSHIP was a form of commitment to the energy transition to ensure Net Zero Emissions 2060.

“Collaboration is about exploring other business opportunities to optimize existing assets, such as floating mini-LNG and floating CNG facilities. We believe this development is the key to the energy transition because gas is a bridge to renewable energy,” Nicke added.

Highlighting the strategic importance of this collaboration, the founding partner of Karpowership DoÄŸan Karadeniz said: “We look forward to working together with PIS both in Indonesia and Southeast Asia and supporting countries in their important energy transition paths.”

This collaborative venture is poised to drive positive change in the energy sector, combining Karpowership’s expertise in efficient modular power generation with PIS’s commitment to supporting ongoing energy transition and sustainable energy initiatives. The partnership also establishes a flexible framework for both parties to explore lucrative business that contribute to the country’s economic development while simoltaneuosly accelerating the global transition to cleaner and more sustainable energy sources.

About KARPOWERSHIP:

The energy transition company Karpowership is the pioneer of the modern Powership. With over 25 years of experience in the floating power plant industry, Karpowership has over 6,000 MW of installed capacity globally via its Powerships and onshore plants, as well as a fleet of floating LNG infrastructure which includes LNG carriers and floating storage and regasification units (FSRUs). Operating in 14 different international markets across 4 continents, Karpowership provides a fast, flexible, and reliable solution to energy demand, and can provide base load, mid-merit, or peak-shaving electricity generation capacity to a host’s grid. As a plug-and-play solution, the company’s Powerships can deploy and begin generating electricity in as little as 30 days.

About PIS:

PT Pertamina Internasional Shipping (PIS) as a Sub-holding of Integrated Marine Logistics (IML) PT Pertamina (Persero) carrying out all shipping, marine services, and logistics businesses. Serving Pertamina Group, PIS shows its track record and expertise in distributing energy across the Indonesia’s waters. PIS owns more than 400 vessels including 96 owned tankers, 6 fuel and LPG storage terminals and operates 140 ports. With extensive and comprehensive services, PIS aggressively expands its non-captive market and already sailing in 50 international routes throughout the globe. Continuously strengthen the company with highly capable, experienced professionals, and wide-ranging fleet and facilities, PIS is committed to delivering excellent services.

For media inquiries or further information, please contact:
Muh. Aryomekka Firdaus
Corporate Secretary of PT Pertamina International Shipping
M.: (+62) 811-872-272
E.: aryomekka@pertamina.com

REDEX Group raises $10M Series A funding led by Aramco Ventures

SINGAPORE, Oct 31, 2023 – (ACN Newswire) – REDEX, Asia’s leading Renewable Energy Certificates (RECs) solutions provider, announced today the successful completion of a USD 10 million Series A funding round.

REDEX’s mission is to accelerate the world’s transition towards renewable energy. The new funding will allow the company to expand beyond Asia, and to further innovate in streamlining and digitizing the issuance and trading of RECs.

Aramco Ventures led the investment, along with notable new investors from the Middle East, Southeast Asia, and Japan. Aramco Ventures is the corporate venturing subsidiary of Aramco, the world’s leading fully integrated energy and petrochemical enterprise.

“REDEX is well positioned as the leading marketplace for I-RECs, which will enable renewable energy markets in many parts of the world. We look forward to collaborating with the REDEX team to extend this capability into new geographies,” said Bruce Niven, Executive MD, Strategic Venturing at Aramco Ventures.

Established in 2018, REDEX Group is a first-mover RECs player in Asia, offering a full suite of RECs management solutions covering asset registration, verification, trading, and retirement.

“We are witnessing tremendous growth in the adoption of RECs by brand owners striving to be 100% renewable, both for themselves and their supply chains,” said Jen-Wee Kang, Founder and CEO of REDEX. “The demand for green energy is very real, and the number of RECs issued and retired is more than doubling year on year. Building on the trust we have established with key players in the ecosystem, REDEX is well-positioned to play a leading role in the exponential growth of RECs adoption globally.”

As a concept, RECs are very simple – the instrument traces one’s power consumption to renewable energy sources. Its simplicity is precisely why the instrument is the most convenient and practical way for companies to achieve Scope 2 neutrality.

RECs are endorsed and adopted by RE100, the main consortium of leading brand owners committed to 100% renewable electricity. The consortium was originally formed in 2014 by 13 corporate partners. Today, RE100 has more than 400 members who consume around 400 TWh of power.

REDEX believes there is great potential to apply RECs creatively in the industrial sector, like for green aluminium, steel, and cement – commodities that are covered in the starting phase of Europe’s Carbon Border Adjustment Mechanism (CBAM).

In April, the company announced that it was the first API-integrated Platform Operator Account on I-REC, the world’s largest RECs registry. In June, REDEX also announced its partnership with China Southern Grid, supporting the grid operator in its role as an I-REC Issuer in China.

About REDEX Group Pte Ltd

REDEX Group Pte Ltd operates Asia’s leading trading platform for Renewable Energy Certificates (RECs). The company offers a one-stop ecosystem for RECs, supporting clients through the full RECs lifecycle – asset registration, production verification, marketplace, and retirement. As an early mover in Asia with a proven track record, REDEX is developing practical and innovative solutions to meet the clean energy needs of corporates globally. The company’s mission is to accelerate the world’s transition towards renewable energy.

For more information, please visit https://redex.eco/

About Aramco Ventures

Aramco Ventures is the corporate venturing subsidiary of Aramco, the world’s leading fully integrated energy and petrochemical enterprise. Headquartered in Dhahran with offices in North America, Europe and Asia, Aramco Ventures strategic venturing programs invest globally in start-up and high growth companies with technologies of strategic importance to its parent, Aramco, primarily supporting the company’s operational decarbonization, new lower-carbon fuels businesses, and digital transformation initiatives. Aramco Ventures also operates Prosperity7, the company’s disruptive technologies investment program.

For more information, please visit www.aramcoventures.com

Media Contact:
enquiry@redex.eco

Bintai Kinden Announces RM3.5 Million Contract Win for Subsidiary Johnson Medical International

PETALING JAYA, Malaysia, Oct 30, 2023 – (ACN Newswire) – Bintai Kinden Corporation Berhad (“BKCB” or the “Company”; Bursa: BINTAI, 6998), a mechanical and electrical (“M&E”) engineering services specialist, is delighted to announce that Johnson Medical International Sdn. Bhd (“JMI”), a 50.5%-subsidiary of BKCB has secured from Blackfox Engineering Sdn. Bhd (“BFESB”) a RM 3.5 million contract which involves the Supply, Delivery, Installation, Testing, Commissioning, and Maintenance of a Pendant System for the 300-beds Hospital Petrajaya in Petra Jaya, Kuching, Sarawak.

Datuk Tay Chor Han, Managing Director cum CEO of BKCB, commented, “We are thrilled for JMI to collaborate with BFESB on this project as it speaks to JMI’s established reputation as a competitive local Pendant System Specialist supplier. Coupled with the Mechanical and Electrical expertise of the BKCB Group backing us to undertake even more complex and high-value projects, we are optimistic that JMI will continue to advance its high-quality services and products offerings.”

This latest contract win joins a line of successful projects that JMI was previously been involved in, such as Hospital Tanjong Karang, Hospital UTAR, Hospital Cyberjaya, and Hospital Putrajaya, among others. The 380-day contract not only fortifies the Company’s revenue stream but also highlights JMI’s proficiency in medical infrastructure solutions.

Boasting numerous patents and registered designs, Johnson Medical International remains a pacesetter in the realm of modular healthcare solutions. This contract will contribute positively to the Company’s financials for the years ending 31 March 2024 and 31 March 2025.

Bintai Kinden Corporation Berhad: 6998 [BURSA: BKC], http://bintai.com.my/

Wintermar Offshore (WINS:JK) Reports 9M2023 Results

JAKARTA, Oct 30, 2023 – (ACN Newswire) – Wintermar Offshore Marine (WINS:JK) has announced results for 9M2023. Wintermar records 9M2023 Net Attributable Profit of US$2.8million compared to a loss of US$2.1million in 9M2022, on the back of better margins from a rise in fleet utilization and charter rates.

Rising fleet utilization through 3Q2023 along with better charter rates contributed to a 30.7%QOQ increase in revenue for 3Q2023, and boosted the gross profit margin to 23.4% for the quarter compared to 15.9% for 2Q2023.

For 9M2023, total revenue was up 23.3%YOY to US$51.2million of which US$20million was booked in 3Q2023.

Owned Vessel Division

In 3Q2023, the Owned Vessel Division saw a 43.7%QOQ jump in revenue to US$13.7million from US$9.5million in 2Q2023, as several mid and high tier vessels started charter contracts with higher daily rates. Direct costs for Owned Vessels rose by 17.0%YOY, largely from maintenance and operational costs from mobilizing vessels to new contracts.

Utilization of the fleet rose steadily through the quarter resulting in average utilization of 70% for 3Q2023, up from 56% in 2Q2023.

For 9M2023 Gross Profit from Owned Vessels reached US$6.8million (+242.9% YOY).

Chartering and Other Services

Revenue from the Chartering Division stayed flat at US$12.9million (+0.8%YOY), while gross profit for the Division in 9M2023 was US$1million, lower than US$1.5million in 9M2022.

Gross Profit from Other Services had a 29.6% YOY increase to US$2.3million for 9M2023.

Indirect Expenses and Operating Profit

Throughout the 9M2023, overall indirect expenses increased by 5.8% YOY to US$4.9 million. As business momentum picked up, there was an increase in staff salaries to US$3.6 million (+9.3% YOY), primarily due to the hiring of additional employees.

Operating Profit jumped to US$5.2million for 9M2023 (+778.1%) compared to only US$0.6million in 9M2022.

Other Income, Expenses and Net Attributable Profit

Interest expenses continued to fall by 10.0%YOY due to regular loan repayments while associated companies recorded a loss of US$0.3 million compared to a profit US$0.5milllion in 9M2022. Total Net Income before Taxes amounted to US$3.6 million for 9M2023, compared to a loss of US$2.4million in 9M2022.

As a result, the Company recorded a turnaround with Net Attributable profit of US$2.8million as compared with a loss of US$2.1million in 9M2022.

The group’s EBITDA also jumped by 50.4% YOY to US$14.7 million.

Outlook for O&G and the OSV Industry

Voluntary production cuts by Saudi Arabia and Russia while China, India, and Brazil continue to drive strong oil demand.

There has been a consistent increase in offshore oil and gas investments with long term projects that will drive utilization of offshore rigs and OSV demand into 2028.

Over the past nine months, the availability of Offshore Support Vessels (OSVs) has seen a decline due to drilling projects in the Middle East, Africa, and Latin America drawing the operationally ready OSVs toward the region. This tightness subsequently led to South East Asian rates finally beginning to increase in 2H2023.

Despite the rising demand, major OSV companies are still hesitant to invest in new vessels, emphasizing capital conservation and concerns about vessel longevity in the context of the ongoing energy shift towards renewable fuels for propulsion. This indicates that the upward momentum on charter rates will continue.

Company Outlook

Wintermar expects the strong performance to be maintained throughout the remainder of 2023. Charter rates are rising, but have not yet recovered to levels seen in the last peak. We expect the demand for high tier OSVs to gradually drive charter rates higher in the coming years. There is a structural shift in upstream oil and gas investments which favours offshore over onshore. In view of the high levels of approved investments in offshore through towards 2028, this recovery is likely to continue for the coming few years.

As at end of September 2023, the Company’s Contracts on hand amounted to US$76 million.

About Wintermar Offshore Marine Group

Wintermar Offshore Marine Group (WINS.JK), developed over nearly 50 years with a track record of quality that is both a source of pride and responsibility that we are dedicated to upholding, and sails a fleet of more than 48 Offshore Support Vessels ready for long term as well as spot charters. All vessels are operated by experienced Indonesian crew, tracked by satellite systems and monitored in real-time by shore-based Vessel Teams.

Wintermar is the first shipping company in Indonesia to be certified with an Integrated Management System by Lloyd’s Register Quality Assurance, and is currently certified with ISO 9001:2015 (Quality), ISO14001:2015 (Environment) and OHSAS 18001:2007 (Occupational Health and Safety). For more information, please visit www.wintermar.com.

For further information, please contact:
Ms. Pek Swan Layanto, CFA
Investor Relations
PT Wintermar Offshore Marine Tbk
Tel +62-21 530 5201 Ext 401
Email: investor_relations@wintermar.com

ONGC Roadshow in Singapore: Collaboration Opportunities in Offshore Oil and Gas Projects

SINGAPORE, Oct 18, 2023 – (ACN Newswire) – Oil and Natural Gas Corporation (ONGC) is organizing a roadshow in Singapore on 19 and 20 October 2023, to invite global oil and gas companies for collaboration opportunities in offshore oil and gas projects. The Roadshow will offer valuable insights into business opportunities within India’s offshore oil and gas infrastructure sector. The Roadshow is taking place in Hotel Pan Pacific, 7 Raffles Boulevard, Singapore.

In pursuit of strategic growth aligned with the evolving energy landscape, ONGC has meticulously designed an ambitious roadmap, the Energy Strategy 2040. This comprehensive plan reflects its resolute commitment to double oil and gas production, expand refining capacity, diversify into renewable energy, and bolster our non-oil and gas ventures.

To achieve substantial growth and diversify its energy portfolio, ONGC prioritizes the early monetization of discoveries through accelerated project execution. It is also making significant investments in Deepwater exploration, Improved Oil Recovery (IOR), and Enhanced Oil Recovery (EOR) projects, maximizing production efficiency and tapping untapped reserves.

Aligned with its growth plans, ONGC is embarking on an expedited development of multiple offshore fields over the next three years. Its objective is to establish more than 25 offshore facilities, lay over 1000 kilometers of subsea pipelines, and create associated infrastructure, requiring an investment of USD 11 billion.

As a trailblazer in India’s energy sector since 1956, ONGC remains dedicated to providing dependable and sustainable energy solutions. Recognizing the vital role hydrocarbons will play in India’s energy security and economic growth, ONGC looks forward to have a mutually beneficial relationship and long lasting partnership with its business partners.

Issued by:
Oil and Natural Gas Corporation Limited
Corporate Communications, New Delhi

For media queries contact:
Ganesh Somwanshi
Founder, Mett.AI
Ganesh@mettai.world

Pertamina International Shipping (PIS) Partners Energy Trader BGN, Expanding Global Fleet of LPG Carriers

Abu Dhabi, 4 Oct, 2023 – (ACN Newswire) – PT Pertamina International Shipping (PIS) has once again engaged international partners to expand its presence in the global market and explore additional business opportunities in support of energy supply and security.

The signing took place at ADIPEC (Abu Dhabi International Petroleum Exhibition and Conference) 2023, the world’s largest energy exhibition and conference.

PIS has signed an agreement with BGN, a leader in global energy, in which the two companies outlined prospective collaborations that span joint ownership of Very Large Gas Carrier (VLGC) vessels, LPG cargo transportation, vessel leasing, amongst others, establishing the foundation for an enduring partnership. The first two vessels may be delivered as early as the first quarter of 2024.

With a current fleet size of 97 vessels, this deal further strengthens PIS’s position as a key player in the maritime industry. It also reinforces BGN’s position as an emerging maritime asset owner, with a growing number of LPG carriers in its fleet to facilitate the company’s trading operations.

BGN, present in 23 countries including offices in Dubai, Geneva, Houston, Rotterdam and Singapore, is a significant LPG trader and is a supplier to Indonesia.

The signing took place at ADIPEC (Abu Dhabi International Petroleum Exhibition and Conference) 2023, the world’s largest energy exhibition and conference, where this year’s theme is “Decarbonising. Faster. Together.” It was hosted at the Indonesian Pavilion led by SKK Migas (Special Task Force for Upstream Oil and Gas Business Activities).

The collaborative agreement was signed by PIS CEO Yoki Firnandi, and BGN CEO Ruya Bayegan, and witnessed by the Head of SKK Migas Dwi Soetjipto, Independent Commissioner of PT Pertamina (Persero) Iggi H. Achsien, Technical Advisor at Ministry of Energy and Mineral Resources Nanang Untung, Special Advisor to Minister for Acceleration of Infrastructure Development and Investment at Ministry of Energy and Mineral Resources Triharyo Susilo, Vice President SKK Migas Erwin Suryadi, and other distinguished guests, along with BGN’s head of shipping Ozan Turgut and other senior executives.

“The collaboration on VLGC and LPG cargo businesses with BGN is a tangible expression of PIS’s commitment to expand LPG commodity businesses and increase PIS’s share in its non-captive market, to strengthen national energy security,” stated Yoki.

BGN CEO Ruya Bayegan added “BGN excels at strong business partnerships and we are pleased to move forward with this new arrangement with Pertamina International Shipping (PIS). BGN’s collaboration with PIS will further enhance our maritime fleet to facilitate our growing energy trading business, cementing our position as a significant LPG trader, as well as supporting the Indonesian energy system.”

PIS and BGN have also been contributing to the vibrancy of ADIPEC 2023, which gathers together the global players in the oil and gas industry and supports the key themes of the forthcoming COP28 climate summit that will also take place in the UAE. This year’s ADIPEC has attracted participation from over 2,200 companies representing 30 countries worldwide, with a total of more than 15,000 delegates and 160,000 attendees.

About Pertamina International Shipping (PIS) Pte Ltd

As an Integrated Marine Logistics Subholding, PT Pertamina International Shipping (PIS) supports Indonesia’s economic growth through safe and sustainable operations, becoming a trusted and reliable maritime partner. Besides a total of 750 owned ships, PIS manages time and spot charters that can be leased through e-chartering. See https://pertamina-pis.com

About BGN International

As a leading energy companies, BGN efficiently conducts trading, storage, and transportation of petroleum products, petrochemicals, and commodities worldwide. Our integrated business model ranges from oil and gas trading and distribution to financing energy projects. Thanks to our established relationships with refineries, producers, state oil companies and international traders, we are present throughout the energy value chain. We also invest in infrastructure development to enhance our trading activities. Visit https://bgn-int.com.

Media Contact

Suh. Aryomekka Firdaus
Corporate Secretary, PI
M: +62 (0) 811 872 2722
E: aryomekka@pertamina.com

Giles Broom
Global Head of Communications, BGN
M: +41 (0) 79 468 6499
E: mediabgn@bgn-int.com

P.S.P. Specialties (SET: PSP) first trading day on SET on August 30

BANGKOK, Aug 31, 2023 – (ACN Newswire) – P.S.P. Specialties PCL (SET:PSP), one of the ASEAN region's leading integrated lubricant solution providers, first trading day on the Stock Exchange of Thailand (SET) on August 30th, with the goal to create innovative lubricant products with high profit margins and high potential growth to support the industry megatrend and to expand further in the overseas markets together with the improvement and further development of production efficiency and more effective operations to ensure sustainable growth.

P.S.P. Specialties PCL (SET:PSP), one of the ASEAN region's leading integrated lubricant solution providers, is ready for the first trading day on the Stock Exchange of Thailand (SET) on August 30th.

Mr. Sint Krongphanich, Chief Executive Officer of P.S.P. Specialties PCL, confirmed the first trading day on the Stock Exchange of Thailand (SET) was August 30th, with the symbol "PSP" in the "Industrial Materials & Machine" business sector, "Industrial" industry group. PSP is one of the leading integrated lubricants solution provider in ASEAN and the largest independent manufacturer in Thailand with the highest production capacity and market share in many product groups. The company also provides services that cover the supply chain of the lubricant industry together with international standard of laboratories to develop innovative products. The purpose is to support the megatrend of the growing industries and to focus on environmental stewardship. Currently, PSP is in the process of studying and researching lubricant and fluid related to EV car including transmission oil for electric vehicles (EV), coolant products for EV battery, lubricant and grease for electric vehicles and bio-transformer oil, as well as the development of lubricant products for the food industry, etc.

P.S.P. also focuses on cost management and efficient operations to reinforce the leadership of lubricant in the ASEAN region including the investment in improving the efficiency of the production process and automation to increase competitiveness to support the plan to expand the lubricant product markets globally. The goal is to increase the revenue proportion to 25 percent of total sales revenue by 2026.

Miss Veeraya Sriwattana, Head of Investment Banking Department, CGS-CIMB Securities (Thailand) Company Limited, as a joint underwriter, said PSP possesses a solid business fundamental as being the leader in lubricant industry with strong trust by multinational customers in various industries through providing one stop lubricant solution. The company plan to leverage its strong research and development capabilities to innovate new products with good profit margins and to capture the growth trend of the industries. The Company also has an efficient production management that promote the competitiveness, and satisfy customer needs to generate healthy growth.

Mr. Pongsak Phrukpaisal, Managing Director, Kasikorn Securities Public Company Limited, as a joint underwriter, said that PSP has strong potential growth from its strategic investments that integrate the entire supply chain which is able to gain the competitive advantage in all dimensions. This strategic plan is to create sustainable business growth and to focus on future businesses especially technology and innovation related, or the "New S-Curve", to enhance profitability and to create sustainable growth.

Released by Public Relations Dept., MT Multimedia Co., Ltd. for P.S.P. Specialties PCL
For additional information, please contact:
Pipop (Top)
Tel: +66 81 929 8864
E-mail: pipop.k@mtmultimedia.com

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Pertamina explores energy cooperation in Africa, supports President’s visit

NAIROBI, Kenya, Aug 23, 2023 – (ACN Newswire) – PT Pertamina (Persero) and its sub-holdings have initiated several potential strategic collaborations with several energy companies in Africa, including in the upstream oil and gas sector, infrastructure development, processing refineries, potential downstream product distribution collaborations, and the development of new and renewable geothermal energy.

Kenya: Pertamina Geothermal Energy (PGE) Tbk, signed an MoU with Africa Geothermal International Limited (AGIL) on August 20, for technology development and resource utilization in geothermal.

Several collaborations were launched by the Pertamina Group in Africa, along with the visit of the Indonesian President, Joko Widodo, on August 20 – 24, 2023. [Image: Pertamina]

In Kenya, Pertamina, through PT Pertamina Geothermal Energy (PGE) Tbk, signed a Memorandum of Understanding (MoU) with Africa Geothermal International Limited (AGIL) on Sunday, August 20, 2023, for technology development and resource utilization in geothermal. With this collaboration, PGE will have the opportunity to study infrastructure development, implement geothermal technology in Indonesia, and expand geothermal development in Kenya.

"Several collaborations that will be launched by the Pertamina Group in Africa, along with the visit of the President of the Republic of Indonesia, Joko Widodo, on August 20 – 24, 2023, will become one of the mainstays in the energy sector for the country. This collaboration can strengthen cooperation between African countries and globally," President Director of Pertamina Nicke Widyawati said during her visit to Kenya, Africa, on Monday (21/8).

In the upstream business, the upstream sub-holding subsidiary, PT Pertamina Internasional EP (PIEP), is exploring the potential for cooperation with the National Oil Corporation of Kenya (NOCK). This exploration is the first step for Pertamina's upstream footprint abroad, strengthening national energy security.

"Spirit brings the barrel home; Pertamina's footprint in the upstream sector is to increase production so that it can be processed at Pertamina's domestic refineries," Nicke said.

Nicke revealed that Pertamina also has opportunities to expand in various energy fields with the government-to-government (G-to-G) collaboration between the Government of Indonesia and the Government of Kenya. This bilateral cooperation also opens investment opportunities and collaboration for Pertamina in the African region.

"We appreciate the role of the government, including the Coordinating Ministry for Maritime Affairs and Investment, the Ministry of Foreign Affairs, and the Ministry of Energy and Mineral Resources, in supporting Pertamina's expansion efforts on the global stage," she explained.

Before the visit, Pertamina had a Memorandum of Understanding with GUMA, an African energy company, regarding strategic alliances for potential upstream, midstream, and downstream business projects.

The collaboration includes the exploration and production of oil and gas fields, the development of oil and gas pipelines, and the development of oil and petrochemical refineries. Apart from that, Pertamina also trades petroleum products in Kenya. According to Nicke, cooperation beneficial to the Indonesian state will be prioritized in every collaboration carried out by the Pertamina Group.

"We bring the government's spirit, the spirit of the 1955 Asian-African Conference. We are now working together on economic development. Pertamina opens opportunities for cooperation in the upstream and downstream sectors, including geothermal in Kenya," Nicke said.

Meanwhile, Vice President of Pertamina, Fadjar Djoko Santoso, added that Pertamina had brought several sub-holdings to explore the potential for cooperation in Africa. These collaborations will further strengthen national energy security and realize the company's role as a global energy company. "We are open to all business cooperation opportunities that positively impact Pertamina and the country," Fadjar said.

Pertamina, as a leader in the field of energy transition, is committed to supporting the Net Zero Emissions 2060 target by continuing to encourage programs that have a direct impact on the achievement of the Sustainable Development Goals (SDGs). These efforts align with implementing environmental, social, and governance (ESG) in Pertamina's business lines and operations.

Media Contact:
Fadjar Djoko Santoso
Vice President Corporate Communication
PT Pertamina (Persero)
M. : +62 813-2063-0765
E. : fadjar.santoso@pertamina.com

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