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Pertamina eyes US $651 milllion in savings post Petral liquidation
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Pertamina president director Dwi Soetjipto (center), accompanied by Corruption Eradication Commission (KPK) chairman Agus Rahardjo, talks to journalists in Jakarta, on March 24. Pertamina and KPK discussed the potential for joint-coordination and supervision to prevent corruption in energy-related strategic projects.
(ANTARA FOTO/Akbar Nugroho Gumay)
B
y reactivating the integrated supply chain (ISC), the transformation of crude and oil products procurement has the potential to increase Pertamina’s profit to US$651 million until 2017, Pertamina president director Dwi Soetjipto said on Monday.
Dwi explained that the ISC transformation has spawned three important phases. The first, dubbed the ‘Quick Win Phase’, aimed to make the procurement of crude and refined oil products more competitive and had contributed significantly to Pertamina’s efficiency.
"By the end of 2015, Pertamina saved $208.1 million. Estimating from this year until 2017, Pertamina has the potential to create added value and efficiency of $651 million," he said.
ISC vice president Daniel Purba said the company had begun the second phase of ISC transformation this year, a phase that consists of six initiatives including value-based crude selection, crude basket expansion, and the optimization of domestic oil procurement and oil processing.
ISC transformation is part of an effort to improve Pertamina's supply chain after Petral Group's liquidation, he said. The liquidation of Petral Group had been recommended by a reform team for the oil and gas sector. (ags)
