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Pertamina expects to save up to US$100 mln from using own tanker vessels

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JAKARTA (rambuenergy.com) –  State owned oil and gas company PT Pertamina (Persero) said it expects to save transportation cost by approximately US$ 100 million per through  the optimization of the use of oil tanker vessels belonging to company.

VP Corporate Communications Ali Mundakir said Pertamina is trying to improve its operational cost efficiency in response to the turbulence in the oil and gas industry following a sharp fall of crude oil prices. In addition to use its own tanker vessels, it also changing the purchase scheme from Cost and Freight to Free on Board, in the purchasing of LPG, crude oil and fuel.

Ali Mundakir cited an example that in importing LPG from United Arab Emirate, the company uses its tanker vessel VLGC Pertamina Gas 2. It generates savings of US$ 23 million in a year or 11 voyage. If VLGC Pertamina Gas 1 is also used for the same thing, it can double the cost savings.

“If we also later on transports the crude oil or fuel, the cost savings could reach over US$100 million per year,” he said. If this is realized, the cost savings would be higher than the target of US$86 million per year.

The company continues to ensures that its tanker vessels comply to the international standards and classifications so that the vessels, such as Pertamina gas 1, Pertamina Gas 2, MT Gunung Geulis, MT Gamsunoro and MT Gamkonora can sail to any ports in the world.

Currently, Pertamina operates 64 own tanker vessels, while 136 tanker vessels are rented from other providers. Pertamina aims to increase its fleet to 90 units. In addition, Pertamina will also ensure the use of a competitive lease ships to transport crude oil, fuel, and LPG. (*)

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