REPUBLIKA.CO.ID, JAKARTA – State owned gas distributor PT Perusahaan Gas Negara (PGN) booked net profit 457.5 million USD, increased 12 percent from 409.8 million USD in the last year. Company's revenue also increased 26 percent from 1.18 billion USD in the first half of 2012 to 1.49 billion USD in the first half of 2013.
President Director of PGN, Hendi Prio Santoso said that company's performance in the first half of 2013 came from transmission and distribution business as well as contribution from its subsidiaries. Until June 2013, volume of gas distribution reached 827 metric standard cubic feet per day (mmscfd), while volume of gas transmission business of PGN and its subsidiaries reached 876 mmscfd.
"PGN will continue to strengthen and also improves gas supply with development of infrastructure and market of natural gas in the country," Santoso said recently.
To increase its upstream capacity, PGN has prepared investments and acquisition over several oil and gas blocks in Indonesia. Until June 2013, PGN through its subsidiary, PT Saka Energi Indonesia has invested in three oil and gas blocks, namely Ketapang Block in East Java about 20 percent, Bangkanai Block in Central Kalimantan about 30 percent and Pangkah Block in East Java about 25 percent.
Director of Finance in PGN, Riza Pahlevi said global economic conditions gave positive impact to company's financial performance. Weakening of foreign currencies against USD gave foreign exchange gain to PGN worth 68.2 million USD.
A worker fill gas tank of three wheeled vehicle called "bajaj" in Jakarta.
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