PT Perusahaan Gas Negara Tbk : PGAS Operational Highlight July 2020

PGAS:IJ

PT Perusahaan Gas Negara Tbk

Refocusing Core Business

September 28 , 2020

PT Perusahaan Gas Negara Tbk. (IDX: PGAS) today announces key operating performance updates ended July 31, 2020, as follows:

YTD Performance

	-10%
			-7%
Distribution (BBTUD)	902	808	870-880
	Jul-19Jul-20	FY20
			Target

		-6%	-6%
Transmission (MMSCFD)	1.365	1.284	1.369-1,377
	Jul-19Jul-20 FY20
			Target

	-34%
Upstream Lifting (BOEPD)			-31%
30.200,0	19.942,0	28,767-30,137
	Jul-	Jul-	FY20
	19	20	Target

	-21%
Regasification (BBTUD)	119	94	120-126
	Jul-19Jul-20	FY20
			Target

	-39%				0%
					+6%
-22%				Oil Transportation (BOPD)
		-31%
LPG Processing (TPD)	200.00	122.00	178-184	10,124.00	10,173.00	9,589-10,000
	Jul-19Jul-20 FY20		Jul-19Jul-20 FY20
			Target				Target

MoM Performance

Volumes	Jun	Jul
2020	2020

Distribution

MoM	Remarks
(%)

1. Distribution volume breakdown on a MoM basis

• PGN = 676 BBTUD (June) vs. 715 (July);

• Gagas = 4 BBTUD (June) vs. 4 (July);

(BBTUD)

758 787

3.83	• Pertagas = 77 BBTUD (June) vs. 68 (July)
	2. Higher distribution volumes (PGN standalone) on a MoM basis
	due to higher gas consumption from ceramics and textile
	customers.

Transmission

Breakdown of transmission volume on a MoM basis is as follow:

(MMSCFD)

1,244 1,226

-1.45 • PGN = 2 MMSCFD (June) vs. 2 MMSCFD (July);

• Pertagas = 1,242 MMSCFD (June) vs. 1,224 MMSCFD (July)

Upstream Lifting

Breakdown of lifting volumes per block are as follow:
•	Pangkah = 5,133 BOEPD (June) vs. 7,217 BOEPD (July);
•	Fasken = 5,079 BOEPD (June) vs. 4,980 BOEPD (July);

(BOEPD)

25,779 16,712

-35,17	• Ketapang = 7,825 BOEPD (June) vs. 928 BOEPD (July);
	• Bangkanai = 980 BOEPD (June) vs. 942 BOEPD (July);
	• Muara Bakau = 6,761 BOEPD (June) vs. 2,646 BOEPD (July)

Regasification	83	85	2.41	Higher regasification volume MoM was primarily due to stronger
(BBTUD)	consumption from PLN.
LPG Processing				The volume breakdown per LPG plant on a MoM basis is as follow:
163	175	7.36	• LPG Pondok Tengah = 0 TPD (June) vs. 0 TPD (July)
(TPD)
			• LPG MKS = 163 TPD (June) vs. 175 (July )
Oil Transportation				Oil delivery declined MoM basis primarily contributed by lower oil
10,131	10,090	-0.40	transportation volume from Pertamina EP field in Central Ramba,
(BOPD)
			South Sumatra to Plaju refinery unit in South Sumatra.

CAPEX (US$ Million)

350-500

30%

70% 87

64% 36%

FY20	YTD June
Target	2020*

Upstream

Downstream,

Midstream &

Supporting

YTD-June 2020 Capex reached US$87 million with the following details:

BUSINESS	CAPEX		NOTES
SEGMENTS	(US$ Mio)
Upstream	56	Development of existing oil & gas blocks (including
	West Pangkah & Sidayu fields)
	29	-	Gresik-to-Semarang Transmission Pipeline
Downstream			Development
	-	Distribution pipeline development
		- Kuala Tanjung distribution pipeline development
Midstream	-	-
Supporting	2	Fiber optic development

• ) YTD-July 2020 Capex to be determined

Business Updates

The effective Letter of Agreements (LOAs) that both PGN and Pertagas has secured thus far reached a total gas supply of 646.13 BBTUD. These LOAs are related to the ongoing implementation of Ministerial Decrees of Ministry of Energy and Mineral Resources ("MEMR") Numbers 89 and 91 Year 2020 in which the average cost of gas is US$4.51/MMBTU (PGN standalone average cost of gas is US$4.24/MMBTU). Details of the effective Letter of Agreements (LOA) are as follow:

Ministerial Decreee MEMR No. 89 Year 2020

		Effective
Regions	Suppliers	Volume
		(BBTUD)
Regional Distribution I	PEP SSWJ, CPGL	205
Regional Distribution II	PHE WMO,	74
Ophir, KEI
Regional Distribution III	PEP A1,	29.9
(Medan)	PHE NSO-NSB**
Regional Distribution III	COPI Batam 1	11
(Batam)
Regional Distribution III	COPI Dumai	6
(Dumai)
Pertagas	PEP A3	0.9
Pertagas Niaga	PHE OK, ONWJ,	4.33
MBGI
PGN Standalone	325.9
PGN & Group	331.13

Ministerial Decreee MEMR No. 91 Year 2020

		Effective
Regions	Suppliers	Volume
		(BBTUD)
Regional Distribution I	PHE JM, CPGL	275
	CPGL
Regional Distribution III	Batam I	40
	Batam II
PGN Standalone	315

BusinessFor furtherUpdatesinformation please contact:

(cont'd)

Investor Relations

PT Perusahaan Gas Negara Tbk

Mid Tower Manhattan 26th Floor

Jl. TB Simatupang Kav. 1-S, Jakarta, Indonesia Email: [e-mail]

Phone: [phone]