PT Pertamina EP Cepu Profile

PT Pertamina EP Cepu (PEPC) as an Upstream Subsidiary of PT Pertamina (Persero) is engaged in upstream oil and gas business activities with a mining working area in the Cepu Block. PEPC cooperates with its partners, namely Exxon Mobil Cepu Limited and BKS PI Cepu Block to jointly manage and explore oil and gas potential in the region. The potential reserves of the Banyu Urip Field are around 823 Million Barrels of Oil and the Jambaran – TiungBiru (JTB) Unitization Field of 1.5 TCF of Gas. In 2019, PEPC’s oil production did not only come from the Banyu Urip Field, but also from the Kedung Keris Field which has been operating since November 2019.

In carrying out its Operational activities, the Health, Safety, Security Environment (HSSE) aspect has always been the most important thing that has become a concern for PEPC where PEPC will always take care to reduce the number of work accidents to zero accidents. This achievement is supported by a strong commitment from all stakeholders to implement aspects of occupational health, safety and security, in line with the tagline “Spirit to Zero Accident, We Choose to Work Safely”.

PEPC feels the success of the transformation is becoming more evident, in addition to the ability to manage PEPC’s role as an active partner in the Cepu Block with partners, namely Exxon Mobil Cepu Ltd. (EMCL), Ampolex Pte Ltd. (both are subsidiaries of Exxon Mobil Corp.) and Regional Owned Enterprises (BUMD) to accelerate oil and gas production through the Early Production Facility (EPF) approach, while increasing production through the application of the latest technology. And now PEPC has been appointed as the Jambaran and Tiung Biru Unitization Field Operators with the agreement of the KKKS WK (Working Area Cooperation Contract Contractor) Block PT Pertamina EP (PEP) and KKKS WK (Working Area Cooperation Contract Contractor) Cepu Block has entered into a Unitization Agreement/ Unitization Agreement (UA) signed on September 14, 2012.

PEPC became a subsidiary of PT Pertamina (Persero) which was the first to obtain funding assistance from external parties in the form of project financing. Project funding is PEPC’s success in managing Pertamina’s upstream assets with international standards, thus earning the trust of a consortium of 12 national and international financial institutions.

The success in Project Financing led PEPC to get 2 International awards at once in 2019, the first was the award from the Project Financing International Award 2019 for the “Deal of The Year 2019” category for financing No. 1 of USD 1.8 Billion which is awardfor the conventional project funding category in Southeast Asia for its success in obtaining substantial funds.

The second is the award from the Islamic Finance News Award 2019 for the “Best Country Deal of the Year” category which was obtained from Dubai. This funding project obtained by PEPC is the first project that combines two types of funding, namely conventional and sharia funding.

In 2020, Pertamina as a Holding Company made major changes in order to realize the aspiration to become a leading global energy company with a market value of US$100 billion and as part of Pertamina, the transformation of operating and organizational models is also carried out in its Subsidiaries, especially in the Upstream sector which is part of the Upstream Subholding. .

This change aims to create an organization that is Lean, Agile and Efficient, so as to improve operational excellence, competitiveness and capability of Subholding Upstream and become the best company in the upstream oil and gas industry. The current challenges require Upstream Subholding to have an organization that is capable of running, accelerating business development and opening up opportunities to increase the flexibility of partnerships and funding. Transformation is also carried out to reform the organization, work culture, mindsetand talent as well as carry out the mandate to accelerate the country’s energy sovereignty.

With the joining of 5 (five) upstream companies in Pertamina, namely Pertamina Hulu Rokan (PHR), Pertamina EP (PEP), Pertamina Hulu Indonesia (PHI), Pertamina EP Cepu (PEPC), Pertamina International EP (PIEP) and 2 companies engaged in supporting upstream oil and gas, namely Pertamina Drilling Services Indonesia (PDSI) and Elnusa, and led by Pertamina Hulu Energi (PHE), will accelerate synergy and collaboration and encourage innovation in various fields. This will certainly have an effect on performance and will ultimately generate profitsfor mutual prosperity.

5 Upstream Oil and Gas Companies consisting of Pertamina Hulu Rokan (PHR), Pertamina EP (PEP), Pertamina Hulu Indonesia (PHI), Pertamina EP Cepu (PEPC), Pertamina International EP (PIEP) are assigned to lead the Pertamina Upstream Sector Work Area which is divided into 5 Regions, namely:

PT Pertamina Hulu Rokan (PHR)
Regional 1 – Sumatra
PT Pertamina EP
Regional 2 – Jawa
PT Pertamina Hulu Indonesia (PHI)
Regional 3 – Kalimantan
PT Pertamina EP Cepu (PEPC)
Regional 4 – East Java & East Indonesia
PT Pertamina International EP
Regional 5 – Overseas

Pertamina EP Cepu (PEPC) itself was appointed to lead the Work Area which is in the Regional 4 area (East Java & East Indonesia) where in Regional 4 consists of 4 zones, namely:

Working area
Zona 11
Alas Dara Kemuning (ADK)
PT Pertamina EP
West Madura Offshore (WMO)
PT PHE Randugunting
PT Pertamina EP
PT Pertamina EP
Tuban East Java
PT PHE Tuban East Java
Zona 12
Jambaran Tiung – Biru (JTB)
PT Pertamina EP Cepu
Banyu Urip
PT Pertamina EP Cepu
Zona 13
Donggi Matindok
PT Pertamina EP
Senoro Toili
PT PHE Tomori Sulawesi
Makassar Strait
PT PHE Makassar Strait
Zona 14
PT Pertamina EP
PT PHE Salawati
Kepala Burung
PT PHE Salawati Basin
Babar Selaru
PT PHE Babar Selaru

On behalf of the Board of Directors, I would like to express my gratitude, highest appreciation to all PEPC stakeholders who have shown dedication and support to PEPC for achieving performance throughout 2020.

Let’s be a part of this change together, by providing support, contribution and positive energy in the transformation process. We make sure together that this transformation goes well to realize a better Pertamina Upstream Subholding. Now is the time for us to invite all stakeholders to maintain the achievement of these results for a better future.

Let’s strengthen the existing energy again to answer the next challenge so that PEPC continues to advance as a world-class National Oil and Gas company. This is our company profile, hopefully it can provide you with complete information about PT Pertamina EP Cepu as a whole and can provide positive support in each of our operational activities.

President Director of PT Pertamina EP Cepu,

Awang Lazuardi

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