This is the achievement of Surya Esa Perkasa (ESSA) operational performance throughout 2020

ILLUSTRATION. LPG gas refinery owned by PT Surya Esa Perkasa Tbk or ESSA

Reporter: Akhmad Suryahadi | Editor: Handoyo.

KONTAN.CO.ID – JAKARTA. PT Surya Esa Perkasa Tbk reported its operational performance throughout 2020. Issuer with stock code THAT this logged production liquefied petroleum gas (LPG) amounted to 61,448 metric tons (MT) or decreased by 17.9% of the total production in 2019 which reached 74,871 MT.

ESSA also recorded a decrease in condensate production of 139,961 barrels or a decrease of 15.1% from 2019 production which reached 164,948 barrels. Ammonia production line also experienced a decline. ESSA recorded production of 659,734 MT or decreased by 13.9% from 766,988 MT in 2019.

President Director & Chief Executive Officer ESSA, Vinod Laroya said, this achievement was achieved by still employing all workers and providing the highest quality health care and safety standards.

“Going forward, ESSA will continue to improve its performance in line with the recovery of prices and demand in the global market. With a strong track record of production, a culture of employees and a management team that has been able to go through a difficult 2020, we are ready to continue to create growth in the future, “explained Vinod in his official statement received by Kontan.co.id, Sunday (21/3 ).

Also Read: Surya Essa (ESSA) develops blue ammonia as a future fuel

Even though Ammonia prices have decreased significantly due to the impact of Covid-19 which resulted in a slowdown in 2020, Vinod sees ammonia relatively able to withstand the pandemic. This is indicated by the significant increase in Ammonia prices since January 2021, which was driven by problems with supply constraints and due to entering the initial period of recovery in demand.

Further, Vinod also saw trend increase in demand for Ammonia due to limited supply. The ESSA also sees significant upside potential for developing blue ammonia at the ESSA Ammonia production facility as a low-carbon energy alternative for the future.

On March 18, 2021, ESSA through its subsidiary, namely PT Panca Amara Utama (PAU), signed an MoU on carbon collection, utilization and storage (carbon capture, utilization & storage / CCUS) together with Japan Oil, Gas and Metals National Corporation (JOGMEC), Mitsubishi Corporation (MC), and the Bandung Institute of Technology (ITB).

This collaboration is carried out to develop low-carbon ammonia production, known as blue ammonia in Indonesia. ” This confirms our commitment to creating a sustainable future while expanding the reach of the current Ammonia market, ”continued Vinod.