WHO IS PERTAMINA? AUGUST 2016

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Russell Gray
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1 WHO IS PERTAMINA? AUGUST 2016

2 Fact Sheet 1,2,3,5 Name: PT. Pertamina (Persero) Founded: August 1968 by the merger of Pertamin (est. 1961) and Permina (est. 1957) Company type: Government owned enterprise National Oil Company Ownership: 100% Government of Indonesia Headquarters: Jakarta, Indonesia Employees: 28,104 Production: 640,000 boepd 6 Acreage held: 232,825 sq km 7 across 116 contracts blocks Fields operated: Wells operated: 2,688 7 Gross revenue: US$70 billion (2014) US$41+ billion (2015) EDITDA: US$5.83 billion (2014) US$3.55 billion (3Q 2015) Cash balance: US$4.15 billion (3Q 2015) 2

Overview 2,5 Focused on oil, gas, renewable and new energy projects inside and outside of Indonesia Dominates the exploration and production (E&P) sector Indonesia s largest oil and gas producer

3 Overview 2,5 Focused on oil, gas, renewable and new energy projects inside and outside of Indonesia Dominates the exploration and production (E&P) sector Indonesia s largest oil and gas producer Considered a strategic national asset only integrated oil and gas company in Indonesia Key contributor to the Government of Indonesia s revenue via taxes and dividends Ranked 230 on Fortune s Global 500 corporations in Over US$41 billion in revenue and some US$45.5 billion in assets in Pioneer in the LNG export sector in the late 1970s and early 1980s Operates 2,688 wells within 625 fields across 116 contract blocks 7 Drilled over 240 wells between Joint ventures with some of the world s leading NOCs: Rosneft Oil Company (Russia), Kuwait Petroleum, Saudi Aramco, National Iranian Oil Company, Petronas (Malaysia) Strategic alliances with domestic and foreign partners 3

4 Group Structure 5 4

A Fully Integrated Operator 2 Source: Pertamina Highlights 3Q 2015 (dated March 2016), [http://www.

5 A Fully Integrated Operator 2 Source: Pertamina Highlights 3Q 2015 (dated March 2016), [ 5

Indonesia s Dominant Oil and Gas Producer 1,2 Pertamina s world class reserves and production statistics (3Q 2015) Reserves 5,125 MMboe of 2P Reserves 2,530 MMboe 2P oil Reserves 2,594 MMboe 2P gas

6 Indonesia s Dominant Oil and Gas Producer 1,2 Pertamina s world class reserves and production statistics (3Q 2015) Reserves 5,125 MMboe of 2P Reserves 2,530 MMboe 2P oil Reserves 2,594 MMboe 2P gas Reserves 74% of 2P reserves are Proven Largest Reserves of any company E&P operating in Indonesia Holds over 70% of Indonesian Proven oil Reserves Production 6 Produced 575,000 boepd in Q Production increased to 12.5% year-on-year to 640,000 boepd in H ,000 bopd oil production 1.94 Bcfd gas production In H1 2016, accounted for over 50% of all Indonesian production 6

Playing a Critical Role in Indonesia s Energy Sector 1,2,4 Key part of the Government of Indonesia s regulatory and control framework for the petroleum industry Pertamina operates: 2,688 wells,

Installed geothermal capacity of 437 MW and 2P geothermal reserves of 1,550 MW 5,283 service stations 591 LPG filling plants 206 vessels (tankers and other oil and product vessels) 115 fuel storage

7 Playing a Critical Role in Indonesia s Energy Sector 1,2,4 Key part of the Government of Indonesia s regulatory and control framework for the petroleum industry Pertamina operates: 2,688 wells, within 626 fields within 116 contracts 6 refineries with a total capacity of 1,031,000 bopd and catering to over 66% of domestic product demand in 2014 LNG facilities with a capacity of over 19 MMtpa Installed geothermal capacity of 437 MW and 2P geothermal reserves of 1,550 MW 5,283 service stations 591 LPG filling plants 206 vessels (tankers and other oil and product vessels) 115 fuel storage terminals (total capacity approx. 42 MMbbl) 62 aviation fuelling units 19 LPG terminals and depots 3 lubricant oil blending plants Owns 28 drilling-rig units 3,800 km of gas pipelines and 64 compressor stations 7

8 Downstream Products and Activities 1,5 Fuel products: Premium, Kerosene, Autogas, Automotive Diesel Oil (ADO), and Industrial Fuel Oil (IFO). Special fuel products: Aviation Gasoline (Avigas), Aviation Turbin Fuel (Avtur), Super TT, Premix 94, Pertamax, and Pertamax Plus. Non-fuel and petrochemical products: Green Cokes, SBP/LAWS/SGO, Polytam, Pure Terephithalic Acid (PTA), Asphalt, Paraxylene, Benzene, Minarex, Lube Base Oil, Lube Oil, Minasol, Waxes, Pertasol, Propylene, Paraffinic 60 & 95, Raffinate, Toluena, and Heavy Aromat. Lubricant oil brands include: Mesran, Mesrania, Meditran, Rored, Translik HD, Prima XP, Martron, Medripal, Salyx, Turalik, Grease Pertamina, etc. Gas products: Liquid Petroleum Gas (LPG) and Liquid Natural Gas (LNG) Other products: Low Oil Mogas Component (LOMC), Naphta, Residue, LSWR, HVGO, Decant Oil, Sulfur, and Lean Gas. Pertamina also has 13 subsidiaries and 16 joint ventures operating in various industries including: Hotels (Patra Jasa) Upstream and downstream business support services Shipping Airlines (Pelita Air) Dockyards Marketing services Hospitals Oil drilling services Others including management services, insurances, and others 8

9 Board of Directors 4 9

10 Global Fortune 500 Ranking in Pertamina s peers in the Fortune 500 are some of the world s top E&P companies 2015 Rank Company Country Revenue (2015) US$ billion Assets (2015) US$ billion 118 Rosneft Oil Russia Marathon Petroleum USA Petronas Malaysia Statoil Norway PTT Thailand Indian Oil India Reliance Industries India Pertamina Indonesia Repsol Industries Spain Bharat petroleum India Hindustan Petroleum India

11 Sources 1. Pertamina.com, [ accessed 14 July Pertamina Highlights 3H 2015 (dated March 2016), [ 04ca347f9046/Pertamina%203Q2015%20Highlight%20-%20Web.pdf] 3. Fortune.com, [ accessed 13 July Pertamina Highlights 1H 2015 (dated October 2015), [ 9cf458f8db5c/Investor%20Presentation%20for%20Non-Deal%20Roadshow%20Nov2015.pdf] 5. Pertamina Annual Report 2015, [ ef7cc8d26cbb/ar_2015_pertamina.pdf] 6. Pertamina sees production boost from overseas blocks, Jakarta Post, 20 July 2016, [ accessed 20 July IHS, [ accessed July Fortune.com, [ accessed 1 Sept

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