PT Surya Esa Perkasa Tbk Sets Production Record
Begins Construction of PT Panca Amara Utama
Jakarta, 11 November 2015 – PT Surya Esa Perkasa Tbk. (“SEP” or the “Company”), Indonesia’s only listed LPG Refiner, has completed its LPG refinery expansion project (“Expansion Project”), successfully increasing design capacity by more than 50% from 120 tons per day (TPD) to 190 TPD on December 2014. This Expansion Project uses the latest Turbo Expander Cryogenic technology. The increased production is hoped to help strengthen the Company’s position as major private player within the national LPG industry. In Q3 2015, the Company achieved 75% higher LPG production (61,856 MT) compared to Q3 2014.
In addition to achieving significant operations gains, on 31 August 2015, the Company received the Zero Accident Award by the Minister of Manpower and Transmigration for achieving 3,029,699 work hours with Zero Accident. This is 5th consecutive year in which the Company has received this award, and truly reflects SEP’s motto: “Safety First”.
On 2 August 2015, the President of Indonesia, Joko Widodo (Jokowi), inaugurated the groundbreaking of PT Panca Amara Utama’s (PAU) ammonia facility in Banggai Regency, Central Sulawesi. PAU is a subsidiary company of SEP. The factory is to be constructed with an investment of US$830 million, and underlines the Company’s commitment in supporting the government’s directive of significant value addition to Indonesia’s natural resources.
“We are very proud that our PAU’s project in Banggai Regency is a domestic initiative and involves a national contractor. This truly is a project that will be built by the men and women of Indonesia by maximizing our country’s natural resources. The PAU ammonia factory offers significant value in strengthening the Company’s business. As the largest shareholder in PAU, the ammonia facility will contribute to SEP’s performance and fundamentals, thereby ensuring the maximum growth of the company’s value,” said Kanishk Laroya, VP Corporate Affairs & Investor Relations of SEP.
About PT Surya Esa Perkasa Tbk.
SEP was established in 2006 to play an active and leading role in national self-sufficiency of downstream gas value-added products. Its main business is the refining and processing of natural gas to produce LPG (liquefied petroleum gas)
and Condensate. It owns and operates the second largest domestic LPG refinery in Indonesia (excluding PSC Operators).
The company is headquartered in Jakarta, Indonesia, with a production facility in Palembang, Indonesia. On 1 February 2012, SEP became the first LPG refiner to list on the Indonesia Stock Exchange (IDX ticker: ESSA).
In August 2011, SEP acquired 59.98% of PT Panca Amara Utama (PAU), a company that has received a 55 MMSCFD natural gas allocation from the Senoro-Toili Working Area in Central Sulawesi, Indonesia. PAU plans to build a 700,000 MT per year ammonia facility and is expected to begin commercial production in Q4 2017 with an estimated project cost of US$ 830 million. This project supports the government’s directive to maximize domestic utilization and value addition of natural gas, in addition to strengthening national food supply security by encouraging fertilizer production.