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Pertamina Towards

Asian Energy Champion 2025

Presentation for :
Corporate University

PT Pertamina (Persero)
Jln. Medan Merdeka Timur No.1A Jakarta 10110
Telp (62-21) 381 5111 Fax (62-21) 384 6865
http://www.pertamina.com
Agenda

1 Pertamina’s Vision, Mission & Business Process

2 Pertamina Aspiration in 2025

3 Highlight RJPP 2014-2018

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Agenda

1 Pertamina’s Vision, Mission & Business Process

2 Pertamina Aspiration in 2025

3 Highlight RJPP 2014-2018

Page 3
Pertamina’s Corporate Vision, Mission and Values

Vision To be a world class national energy company

To carry out integrated core business in oil, gas, & renewables


Mission based on strong commercial principles

Values Clean, Competitive, Confident, Customer Focus, Commercial,


Capable

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Summary - Key Company Highlights

Overview 2013 Upstream Operations 2013 Downstream Operations


2013 Key Financial  5 major upstream subsidiaries for Refining
(USD Billion) jointly-operated areas  6 refineries
 Sales and Other Operating Rev : − PT Pertamina EP: 5 own-operated (Total capacity : 1,031 mbs/d)
71.10 working areas, 26 TAC, 27 KSO
 Net Income : 3.07 − Pertamina Hulu Energi: 3 PSCs, Marketing
 EBITDA : 6.66 10 JOBs, 14 IPs/PPIs  8 fuel marketing regions
 Total Assets : 49.34 − PT Pertamina EP Cepu  112 fuel terminals
Employees (Group) − PT Pertamina International EP  25 LPG depots
 24,778 persons − ConocoPhillips Algeria Ltd  5,091 retail gas stations
Affiliation  8 international areas (production &  60 fuel terminals
exploration) in 7 countries  3 LOBPs (lube oil blending plants)
 Subsidiaries : 22 units
 Total oil and gas production  192 tankers, 59 owned
 JV & Associates : 13 units & 133 chartered
− Oil: 201.51 mbopd
− Gas: 1.53 bscfd  28 LPG tankers operated
 Geothermal working areas
 Sales volume
 Fuels (in Million KL)
− 8 own-operated areas
− Subsidized fuels : 47.44
− 7 joint-operation areas − Gasoline : 30.59
 Geothermal production 2,962 GWh of − Kerosene : 1.12
electricity and 21.73 million Ton of
steam − Automotive Diesel Oil : 15.73
 Total gas transmission pipeline length
− Non-subsidized fuels : 19.12
of 1,589 km with total pipe volume − Retail : 0.79
32,675 inches km, divided into 43 − Industry & Marine : 14.17
licenses − Aviation : 4.16
 39 onshore drilling rigs (PDSI)  LPG (Million MT)
− Subsidized 3kg (PSO) : 4.40
− Non-subsidized (Non-PSO) : 1.20

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Pertamina’s Business Process

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Agenda

1 Pertamina’s Vision & Mission

2 Pertamina Aspiration in 2025

3 Highlight RJPP 2014-2018

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Pertamina’s Aspiration is To Be a Fortune 100 “Asian Energy Champion”
by 2025

“Asian Energy Champion”


‘Fortune 100’ position (Revenue ~$200b USD, EBITDA ~$40b USD)

Leadership in existing core Growth in new businesses Increase efficiency in PSO


E&P
Leading Asian NOC: 2.2 PetChem Oil products
mmboepd production with Largest petchem player in Maintain position of strength
domestic leadership (50%) and Indonesia with 35% market with 60% market share; new
int’l foot-print (~30% of own share, high margins through service model through “New
prodn.) integration pasti pas” and NFR
Midstream gas
Integrated gas champion with Coal LPG
trans-Sumatera and trans-Jawa Leader in alternate technology Optimize supply chain and
gas infra-structure (e.g. CBM, UCG) while infrastructure
Refining maximizing coal production
Economically competitive Shipping
refining capacity; Top quartile Biofuels Support own supply chain and
operating performance Serving mandate of 20% blend; also build third party service
upstream presence to reduce model
Industrial fuels & lubes losses and supply risk
Maintain position of strength
with over 50% market share,
while sustaining profitability Power
Trading One of the largest Indonesian IPP
Optimize supply chain and player with ~ 3-5 GW capacity
improve profitability

Project & Technology Center: Technology leader on CBM, Geothermal, EOR and deepwater;
Strong project executor with delivery on time and within budget
Organization & Capability: Accountability and delivery; Employer of choice to attract and retain best talent

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The 2025 aspiration implies stepped-up revenues and capex

RJPP, RJPP, Aspiration,


2014 *) 2018 *) 2025
~200

Revenues 116 4x
79
Bn USD

14 10-15
Annual capex 8 3x
requirement
Bn USD

2,200
Oil and gas 1,115
Production 5x
541
kboed

38

EBITDA 21
9x
Bn USD 8

*) draft RJPP 2014-2018 (June 2014) Page 9


Upstream Strategy toward Pertamina as a Asian Energy Champions In 2025

Aspiration
• Leading Asian NOC with 2.2 mmboepd production Upstream 2025 Initiatives
• Leverage domestic resources in CBM, Shale Gas, Oil, Gas, and Geothermal
Key elements of the strategy Enabler for the success 1.
1 Reorganize Exploration,
Development & Technology to
• Extensive use of partnerships ensure delivery
• Domestic leadership in
O&G production with ~50% 2.
2 Complete basin review of existing
share of all domestic • Integrated exploration strategy, both in and domestic new acreage
production existing and new acreage 3.
3 Development of key projects e.g.,
Banyu Urip, Jambaran-Tiung Biru,
• International footprint with • Established semi-centralized exploration, Natuna
~30% of own O&G development and technology, staffed 4.
4 Establish “Pertamina Hulu Way” of
production outside of with appropriate talent production operation system
Indonesia across various assets
• Accelerated efforts in HR recruiting, 5.
5 Increase geothermal production
• Accelerate CBM/Shale Gas development and retention (Improve pricing, partnerships &
development to ~200 kbpd deliver on development plans)
(~1100 • New Pertamina Hulu Way for production 6. Accelerate CBM development,
6
• ) in 2025 operations system (e.g., replicate best including through partnerships
practice across various assets) 7.7 Transform PDSI into integrated
• Accelerate geothermal services Co
development to ~2.5 GW • Transform PDSI into an integrated 8. Develop a Hulu manpower &
8
domestically upstream services company (e.g., recruitment plan
offshore drilling,etc)

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Gas Strategy to acheive Pertamina Aspiration in 2025

2025 aspiration to become Indonesia’s integrated gas player will be deployed through value creation strategy
Gas 2025 Initiatives

Description
1 Integrated infrastructure
• Develop roadmap for an integrated gas infrastructure in Indonesia
Integrated gas blueprint (Trans-Java
–a Sumatera: convert the Arun plant into a Re-gas facility; extend pipeline to
infra- connect Arun to Medan and beyond pipeline & regas, Arun
structure regas & pipeline) based
–b Jawa: meet current demand with FSRUs and future demand with inland Re-
and pricing on updated gas balance
gas; build trans-Jawa pipeline to optimize gas supply
–c East Indonesia, serve decentralized needs through mini receiving and Re-gas
facilities spread over strategic locations
• Negotiate higher gas prices with PGN to trigger additional supply 2 Roll out CNG for public
transport, heavy vehicles,
• Growing business around Natural Gas transmission & distribution, LPG private vehicles
processing and NGL
Expand along • Expand distribution to capture more margin ($2-3 per mmbtu vs. $0.7 per
value chain mmbtu for transmission) 3 Secure LNG for re-gas
facilities (both domestic
and international)

• Roll out CNG in Indonesia and seek government support (price setting, covering
Maximize 1st wave of infrastructure and conversion kits capex, and mandating conversion
downstream of public transports)
opportunities • Develop opportunities to serve households, refineries and other industries (e.g. 4 Build power generation
heavy vehicles in mining, shipping industry) business (geothermal,
renewable)

• Adopt global sourcing strategy for natural gas. Seek government support for
Global domestic sourcing, e.g. Bontang and Tangguh
sourcing • Build trading business to leverage storage resources (e.g. Arun) and optimize
and trading LNG procurement

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Refining Strategy to acheive Aspiration in 2025

2025 aspiration – Expand … through a three- Refining 2025 initiatives


economically competitive refining pronged strategy
capacity…
• Demand growth for refined • Operational excellence: Optimize 1 • Upgrade existing refineries (RDMP)
products in Asia requires operations to meet technical limit;  RU V process sour crude and
target positive P&L for Refining bottom upgrading
expansions in new capacity
beyond 2015
 RU II / III open access and
process sour crude
• Profitability of Pertamina
refining is low, driven by • Asset maximization: “Minor upgrade” 2 • Develop end to end petrochemical
structural disadvantages business capability through
of assets; Expand operating window
integration with existing refineries
to increase sour crude processing
• Maximimize sour crude and partnership
processing to increase refinery  Calciner RU II
margin and competitiveness  Polypropylene RU VI

• To meet Indonesia’s energy fuel • Expansion and upgrades: 3 • Build supply chain infrastructure,
requirement, Refining need to o Upgrade existing refineries to system and crude oil trading
competitively build refining increase complexity and margins; capabilities
capacity
o Build new refinery integrated with  CCT
petchem to close domestic supply-
demand gap; 4 • Build new refineries integrated with
petchem through partnership
o Develop supply chain infrastructure  GRR Balongan, East Java and
to increase operation flexibility and Government
optimize margin including crude oil
trading capability

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M&T Strategy toward Pertamina 2025

Strategy to retain leadership M&T 2025 initiatives

1 • Maintaining I&M market leadership in an increasingly


Maintain Pertamina competitive market ( improvement in cost position by 10%)
M&T will continue to be leadership (industrial fuels,
important for Pertamina aviation and lubricants) 2 • Expand marine bunker business to capture demand in
Kalimantan (25% vol share in 5 years and build marine bunker
infrastructure)
• M&T shapes the public 3 • Expand infrastructure in selected airports to anticipate
image of Pertamina – increase in future demand
and to some extent, the 4 • Develop Pertamina lubricants to become major regional
government player
Capture growth in high
margin segments 5 • Build a competitive and profitable petchem business and
• Role in ensuring (petrochemicals) earn $ 8 – 10 bn by 2025
security of supply
distribution unlikely to 6 • Improve PSO fuel distribution through New IT System National
go away completely as Rollout
past of NOC obligation 7• Roll out NFR for profitability and increase customer value
to the nation proposition (NFR as 30% of outlet space)
Increase efficiency of PSO
(retail fuels and LPG) 8 • Increase competitiveness in non-PSO fuel through “New Pasti Pas”
and earn $50 – 70 bn from fuel retail
• M&T is an important
source of steady cash 9 • Develop a new LPG business model to shift consumption pattern
flows for Pertamina - towards reticulation
$ 140 bn by 2025 10• Expand LPG infrastructure network with 2 referigerated and 12
pressurized terminals

Build supply and distribution 11• Build world class fuel distribution facility example : upgrade
infrastructure blueprint to multiple depots, blending facilities at Sambu & Tanjung Uban,
support growing demand Boyolai – Madiun pipeline etc
(S&D and shipping) 12• Expand shipping business to new segments : LNG, upstream
O&G services and bulk

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5 HR key acceleration initiatives to achieve 2025 vision

Initiative Details

Upstream business • Work as one team with Business Directorates on separation of legal and operating
1 integrated org. structures in Upstream business; business development centralized in PIMR
structure

• Develop compelling technical career track to attract and retain world class talent,
Build world class
including building technical talent development program through leveraging senior
2 technical talent at
scale experts and encouraging knowledge transfer
• Launch technical/specialist track for GGR (Upstream) and Mechanical (Refining)
on Dec 2012
• Launch comben package and recognition programs for technical talents/specialists
• Acquire experienced hires for critical globally competitive skills through contract
separate track

• Aligned compensation policy across Pertamina group, directly linked with skill sets,
Skill-based& per-
roles and responsibilities
3 formance-based
compensation • Launch single grade program for SVP and VP on Q4 2012

• Internal capability building through structured program (incl. partnership and mentoring)
• Launch Business Academy: Upstream (GGRPF & Drilling) and Refining
4 Corporate University
(Maintenance & Reliability Management) on Dec 2012
• Partnerships with global Corporate University or other world class learning provider,
e.g. Insead, for selected skills’ learning program

• Implementing new HR roles, including strategic business partner and administrative


World Class HR service breakthrough
5 Excellence
• Launched HR Customer Service on week 1 July 2012
• Sharpen HR Business Partner roles & responsibilities through procedures and
upskilling program

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GA Directorate initiatives towards 2025
Aspiration GA Directorate 2025
Initiatives
Central provider of policy support, services, and best quality solutions for general affairs that is
equal to world class national energy company 1. Build independent
1
business unit (ICT and
Asset Management)
Key elements of strategy Enabler for the success 2. Monetize assets as part
2
of the establishment of
Make HSSE to be excellent in all Establish policy for ICT, HSSE, company’s profit
operational aspects Asset Management, Quality, and 3
3. Develop a smart, green
Procurement and iconic Office Center
Drive change based on ICT and shared
services Realize strategic partnership 4.
4 Comply with all standard
regulations
Optimize goods/services procurement 5.
5 Develop service based
using hybrid method Implement the best applied ICT architecture
practice of industry
6.
6 Continuous improvement
Focus on Business Supporting Assets of all aspects in the
(APU) to support the business management of GA
Implement world class
standard (ISO, CIP, PQA) 7
7. Embedded culture of
HSSE, Quality, ICT
Improve ownership and control of
land status completed by 2016 8.
8 Maintain good image of
Professional HR specific the company
competency through
Update office management and
certification, benchmarking, job
general services
training, etc
Central provider of GA solutions
Conduct Quality Assessment,
Improvement, and knowledge
management process properly and
consistently

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Agenda

1 Pertamina’s Vision & Mission

2 Pertamina Aspiration in 2025

3 Highlight RJPP 2014-2018

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RJPP 2014-2018* highlights as stage towards Pertamina Aspiration 2025 (1/2)
* Subject to be revised by Management
(Draft per June 2014)

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RJPP 2014-2018* highlights as stage towards Pertamina Aspiration 2025 (2/2)
* Subject to be revised by Management
(Draft per June 2014)

Data cadangan geothermal merupakan total cadangan (P1+P2+P3), tidak termasuk hypotetical
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Thank You

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