PT Pertamina Gas (Pertagas) posted a positive performance in 2016. One of the subsidiaries of PT Pertamina (Persero) recorded a net income of US$159.1 million in 2016, managing to surpass the previous year’s profit.
President Director of Pertagas Toto Nugroho said the net income in 2016 rose by 5.3 percent compared with the one in 2015 amounted to US$151 million. So the net income increased by US$8 million or equivalent to Rp106.6 billion.
Toto said he hoped in the 2017 the company would improve the performance further after the completion of three open access pipeline projects. The three completed major projects are the gas piping segment of Belawan – Medan Industrial Estate (KIM), a Special Economic Zone (SEZ) in North Sumatra, with the length of 136.8 km; Muara Karang – Muara Tawar (MK-MT) with 32 km in length expanding from Jakarta to Bekasi, West Java; and the 56 km piping of Porong – Grati from Sidoarjo Regency to Pasuruan Regency in East Java.
In terms of investment in 2016, according to Toto, Pertagas invested US$168.6 million for business development and asset improvement. Continuing the aggressive investment in 2016 for developing the business, in 2017 Pertagas is also working on a number of gas pipeline projects including the Gresik – Semarang, Grissik – PUSRI, Looping Gresik – PKG, and gas pipeline for household in 8 cities.