PGAS:IJ
PT Perusahaan Gas Negara Tbk
Investor Relations Contacts
Mid Tower Manhattan 26th Floor
Jl. TB Simatupang Kav. 1-S, Jakarta, Indonesia
Email: investor.relations@pgn.co.id
Phone: +62 21 8064 1111
www.pgn.co.id
January 17, 2020
December Operational Updates: Confidence in 2019 Delivery
PT Perusahaan Gas Negara Tbk. (IDX: PGAS) today announces key operating performance updates ended 31 December 2019 as follows:
Volumes | Jan - Nov 2019 | Jan - Dec 2019 | YoY % | FY 2019 Targets |
Distribution* | 987 | 988 | 2.84 | 970 - 990 |
(BBTUD) | ||||
Transmission | 2,044 | 2,046 | -2.64 | 2,070 - 2,100 |
(MMSCFD) | ||||
Upstream Lifting | 9.35 | 10.41** | -27.33 | 10.50 - 11.00 |
(MMBOE) | ||||
Regasification | 121 | 120 | -3.81 | 125 - 130 |
(BBTUD) | ||||
LPG Processing | 722 | 716 | -9.05 | 740-770 |
(TPD) | ||||
Oil Transportation | 3,401,539 | 3,746,265 | 0.89 | 4,361,069 |
(Barrel) | ||||
* Incl. Processed Gas Volume of 39 BBTUD | USD 200 - 250 Million |
** Lifting Vol. based on estimation | |
- PGN and Pertagas recorded distribution volume of 837 BBTUD and 143 BBTUD, respectively, in Dec. vs. 911 and 160 BBTUD, respectively, in the prior month (or declined by 8.12% for PGN and 10.62% for Pertagas, respectively, MoM). These declined were mainly contributed from lower gas consumption from power and industrial customers as a result of pipeline maintenance works that delivered gas to Tanjung Priok power plant in Dec. as well as Christmas and New Year's holidays.
- Lower transportation volumes declined MoM by 0.26% to 2,059 MMSCFD in Dec. mainly due to lower Pertagas' volumes MoM from 1,299 MMSCFD in Nov. to 1,293 MMSCFD in Dec.
- O&G lifting in Dec. stood at 1.05 MMBOE or higher by 50.29% compared to the prior month mainly driven by higher oil lifting volume in Dec. by 189.86% MoM to 8,255 bbl per day mainly driven from Ketapang and Muara Bakau blocks.
-27%
48% | ~USD 166 Million |
Upstream | 68% |
52% | |
Downstream, | 32% |
Midstream | |
& Supporting | Nov-19*** |
FY2019 CAPEX |
*** Actual Dec. capex yet to be determined
Upstream
Downstream, Midstream & Supporting
- Other segments reflect Pertagas business contributions:
- Regasification volumes MoM increased by 24.25% to 116 ▪ YTD capex spending as of November 2019
BBTUD in Dec. due to higher gas consumption by PLN. | reached US$166 million, US$113 million of |
- LPG processing dropped by 3.38% from 673 TPD in Nov. to 651 | which was spent on upstream activities and |
TPD in Dec. due to lowering production both in Perta Samtan | the remaining was spent on downstream |
Gas and and MKS LPG plant. | |
midstream and supporting businesses. | |
- Oil transportation from Pertamina EP oil field in Central Ramba, | |
South Sumatra, to Plaju refinery unit in South Sumatra recorded | |
higher oil volumes 12.79% MoM to 344,726 BOEPD. |
Business Projections 2020*
Refocusing Core Business
Operating Metric
+3% | ||
Distribution (BBTUD) ** | 949 | 950-980 |
FY19 | FY20 | |
Target |
** Excl. Processed Gas
Transmission(MMSCFD)*** | +1% | |
1,369 | 1,369-1,377 | |
FY19 | FY20 | |
Target |
*** Excl. TGI
+6% | ||
Upstream Lifting (MMBOE) | 10.4 | 10.5-11.0 |
FY19 | FY20 | |
Target |
+5% | ||
Regasification (BBTUD) | 120 | 120-126 |
FY19 | FY20 | |
Target |
**** | ||
ProcessedGas (Thousand Ton) | +5% | |
64 | 65-67 | |
FY19 | FY20 | |
Target |
**** Excl. Perta Samtan
-2% | ||
Transport (MMBOE) | 3.74 | 3.5-3.65 |
Oil | ||
FY19 | FY20 | |
Target |
Financial Indicator
CAPEX | 500-700 | ||||||||
($US Million) | |||||||||
29% | |||||||||
11% | Upstream | ||||||||
55% | |||||||||
166 | |||||||||
Midstream | |||||||||
Downstream | |||||||||
1% | 68% | ||||||||
Supporting | |||||||||
8% 23% | 5% | ||||||||
Nov. 2019 | FY20 Target |
Actual Dec. '19 capex yet to be determined
Macro Impacts | Key Assumptions | |||
• | Weakening US Dollar against Rupiah | • | Exchange Rate USD/IDR : 14,400 | |
• | Lower electricity consumption | • | Inflations : 3.1% | |
• | Tightening Government Policy | • | Oil Price (ICP): USD 63/barrel | |
• Industries Growth 2% - 3% | ||||
Business Focus | • | Stable Power Consumption | ||
Development of Infrastructures:
- Distribution Pipeline in Java and Sumatra
- Completion of Gas Transmission pipeline
- Oil Transportation pipeline
Distribution expansion in key markets:
- Greater Medan Area
- Dumai-Riau
- Java (Centra Java, East Java, & West Java)
CAPEX PLAN ($US Million) | Projects/Programs | Years | Sales VolumeTarget | |
(Based on Customer Segment) | ||||
Upstream | ~200 | Developing Pangkah, Muara Bakau | 2020-2021 | |
and Ketapang |
Midstream | ~80 | LNG Infrastructures | 2020-2021 | FY 2020E |
• LNG Carrier/Vessel | 1% |
- LNG Trucking
- Revitalised Arun Tank
37% | |||||||||
Downstream | ~385 | • | Java & Sumatra Distribution | 2020-2021 | |||||
• | Customer Attachment | FY2019 | |||||||
• | Gressik - Semarang Transmission | 62% | |||||||
• | Rokan Oil Pipeline | 1% | |||||||
Supporting | ~35 | 2020 | 42% | ||||||
58% | |||||||||
Notes: | Power (PLN/IPP/PPU) | ||||||||
* May be reviewed in anticipation of | Industries/Commercials | |
implementing new industrial gas pricing | City Gas | |
For further information please contact;
Investor Relations
PT Perusahaan Gas Negara Tbk
Mid Tower Manhattan 26th Floor
Jl. TB Simatupang Kav. 1-S, Jakarta, Indonesia
Email:investor.relations@pgn.co.id
Phone: +62 21 8064 1111
About PT PGN Tbk
PGN is the leading IDX listed natural gas distribution and transportation player in Indonesia. PGN continues to strengthen its position in the market by gradually transforming into an integrated energy solution company, encouraging the use of natural gas.
PGN is engaged in upstream oil and gas, midstream and downstream fields across the Indonesian peninsula. PGN owns and operates natural gas pipelines in excess of 9,000km in total length, covering c. 95% of the national natural gas pipeline network. Additionally, PGN is present in 11 working fields across Indonesia with active FSRU's in most regions. PGN, through its downstream entities, serves more than 2,000 industrial and commercial customers.
PGN's operations are supported by a variety of sophisticated and reliable information technology to ensure quality of service.
Disclaimer
This document is not, and nothing in it should be construed as, an offer, invitation or recommendation in respect of the Company's credit facilities or any of the Company's securities. Neither this presentation nor anything in it shall form the basis of any contract or commitment. This document is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor.
The Company has prepared this document based on information available to it that have not been independently verified. No representation or warranty, expressed or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. The information included in this presentation is preliminary, unaudited and subject to revision upon completion of the Company's closing and audit process.
Cautionary Statement
This document may include forward-looking statements concerning the Company's plans, objectives, goals, strategies, future events, future performance, capital expenditures, business trend, and other information that is not historical. When used in this document, the words "estimates", "expects", "anticipates", "projects", "plans", "intends", "believes", "predicts", "forecasts", or future or conditional verbs, such as "will", "should", "could", or "may" and variations of such words or similar expressions are intended to identify forward- looking statements. All forward-looking statements, including, without limitation, management's examination of historical operating trends and data are based upon the Company's expectation and various assumptions. Future events or results may differ from those anticipated or expressed in these forward-looking statements.
All forward-looking statements attributable to the Company or persons acting on its behalf apply only as of the date of this document. The Company undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.
Attachments
- Original document
- Permalink
Disclaimer
PGN - PT Perusahaan Gas Negara (Persero) Tbk published this content on 17 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 January 2020 12:08:03 UTC