PT Pertamina Hulu Energi

dan Entitas Anak/and Subsidiaries

Laporan keuangan konsolidasian tanggal 31 Desember 2018 dan

untuk tahun yang berakhir pada tanggal tersebut
beserta laporan auditor independen/
Consolidated financial statements as of December 31, 2018 and
for the year then ended with independent auditors’ report

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 The original consolidated financial statements included herein
are in the Indonesian language.

PT PERTAMINA HULU ENERGI PT PERTAMINA HULU ENERGI

DAN ENTITAS ANAK AND SUBSIDIARIES
LAPORAN KEUANGAN KONSOLIDASIAN CONSOLIDATED FINANCIAL STATEMENTS
TANGGAL 31 DESEMBER 2018 DAN AS OF DECEMBER 31, 2018 AND
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR THEN ENDED WITH
PADA TANGGAL TERSEBUT INDEPENDENT AUDITORS’ REPORT
BESERTA LAPORAN AUDITOR INDEPENDEN

Daftar Isi Table of Contents

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Lampiran/
Schedule

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Laporan Auditor Independen Independent Auditors’ Report

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Laporan Posisi Keuangan Konsolidasian ........................ 1 .......... Consolidated Statement of Financial Position

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Laporan Laba Rugi dan Penghasilan Komprehensif Consolidated Statement of Profit or
Lain Konsolidasian ................................................... 2 ............. Loss and Other Comprehensive Income

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Laporan Perubahan Ekuitas Konsolidasian .................... 3 ......... Consolidated Statement of Changes in Equity

Laporan Arus Kas Konsolidasian .................................... 4 ................... Consolidated Statement of Cash Flows
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Catatan Atas Laporan Keuangan Konsolidasian ............. 5 ..... Notes to the Consolidated Financial Statements
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 The original consolidated financial statements included herein
are in the Indonesian language.

PT PERTAMINA HULU ENERGI DAN ENTITAS ANAK/AND SUBSIDIARIES

Lampiran 1/1 Schedule

LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF

KONSOLIDASIAN FINANCIAL POSITION
31 DESEMBER 2018 DECEMBER 31, 2018
(Dinyatakan dalam ribuan Dolar AS, kecuali dinyatakan lain) (Expressed in thousand of US Dollars, unless otherwise stated)

Catatan/
2018 Notes 2017

ASET ASSETS
ASET LANCAR CURRENT ASSETS

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Kas dan setara kas 217.250 6,31b 107.503 Cash and cash equivalents
Kas yang dibatasi
penggunaannya - Restricted cash

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bagian lancar 15.300 7,31b 21.311 - current portion
Piutang usaha Trade receivables
- Pihak berelasi 87.597 8,31c 80.347 Related parties -

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- Pihak ketiga 83.704 8 97.952 Third parties -
Piutang Pemerintah 41.144 9 72.339 Due from the Government

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Piutang lain-lain Other receivables
- Pihak berelasi 130.257 10,31d 131.921 Related parties -
- Pihak ketiga 101.926 10 110.351 Third parties -
Persediaan 100.120 11 106.857 Inventories

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Piutang pajak lainnya Other taxes receivable
- bagian lancar 8.226 30a 9.266 - current portion
Piutang pajak penghasilan Corporate and dividend
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dan dividen - bagian lancar 9.550 30a 9.283 taxes receivable - current portion
Uang muka dan biaya dibayar di muka 94.694 12 94.402 Advances and prepayments
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Jumlah Aset Lancar 889.768 841.532 Total Current Assets
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ASET TIDAK LANCAR NON-CURRENT ASSETS

Kas yang dibatasi
penggunaannya - Restricted cash
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bagian tidak lancar 34.215 7,31b 34.251 - non-current portion

Aset pajak tangguhan 47.074 30e 134.770 Deferred tax assets
Goodwill - neto 53.752 15 53.752 Goodwill - net
Investasi jangka panjang 279.302 13 240.522 Long-term investments
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Piutang pajak lainnya Other taxes receivable

bagian tidak lancar 80.036 30a 51.818 non-current portion
Aset minyak dan gas bumi 3.131.379 14 3.407.038 Oil and gas properties
Aset tidak lancar lainnya 16.141 17.104 Other non-current assets
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Jumlah Aset Tidak Lancar 3.641.899 3.939.255 Total Non-Current Assets

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JUMLAH ASET 4.531.667 4.780.787 TOTAL ASSETS

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Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial statements
merupakan bagian yang tidak terpisahkan dari form an integral part of these consolidated financial statements
laporan keuangan konsolidasian ini secara keseluruhan. taken as a whole.
 The original consolidated financial statements included herein
are in the Indonesian language.

PT PERTAMINA HULU ENERGI DAN ENTITAS ANAK/AND SUBSIDIARIES

Lampiran 1/2 Schedule

LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF

KONSOLIDASIAN FINANCIAL POSITION
31 DESEMBER 2018 DECEMBER 31, 2018
(Dinyatakan dalam ribuan Dolar AS, kecuali dinyatakan lain) (Expressed in thousand of US Dollars, unless otherwise stated)

Catatan/
2018 Notes 2017

LIABILITAS LIABILITIES
LIABILITAS JANGKA PENDEK CURRENT LIABILITIES

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Utang usaha Trade payables
- Pihak berelasi 109.535 16,31e 583.321 Related parties -
- Pihak ketiga 101.838 16 70.198 Third parties -

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Utang Pemerintah 37.878 17 59.678 Due to the Government
Utang pajak lainnya 11.854 30b 16.587 Other taxes payable
Utang pajak penghasilan Corporate and dividend
dan dividen 81.083 30b 56.733 taxes payable

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Utang lain-lain Other payables
- Pihak berelasi 1.628 18,31f 2.841 Related parties -

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- Pihak ketiga 134.443 18 302.783 Third parties -
Beban yang masih harus dibayar 296.161 19 272.106 Accrued expenses
Pendapatan tangguhan 4.546 20 21.186 Deferred revenue

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Pinjaman jangka pendek -
pihak berelasi - 31g 92.243 Short-term loan - related party

Jumlah Liabilitas Jangka Pendek 778.966 1.477.676 Total Current Liabilities

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LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES
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Liabilitas pajak tangguhan 465.214 30e 310.847 Deferred tax liabilities
Pinjaman jangka panjang -
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pihak berelasi - 31g 172.495 Long-term loan - related party

Provisi untuk biaya restorasi dan Provision for environmental
reklamasi lingkungan hidup 779.149 22 696.925 restoration and reclamation costs
Liabilitas
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imbalan kerja karyawan 49.682 21 54.498 Employee benefits liabilities

Jumlah Liabilitas Jangka Panjang 1.294.045 1.234.765 Total Non-current Liabilities

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JUMLAH LIABILITAS 2.073.011 2.712.441 TOTAL LIABILITIES

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Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial statements
merupakan bagian yang tidak terpisahkan dari form an integral part of these consolidated financial statements
laporan keuangan konsolidasian ini secara keseluruhan. taken as a whole.
 The original consolidated financial statements included herein
are in the Indonesian language.

PT PERTAMINA HULU ENERGI DAN ENTITAS ANAK/AND SUBSIDIARIES

Lampiran 1/3 Schedule

LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF

KONSOLIDASIAN FINANCIAL POSITION
31 DESEMBER 2018 DECEMBER 31, 2018
(Dinyatakan dalam ribuan Dolar AS, kecuali dinyatakan lain) (Expressed in thousand US Dollars, unless otherwise stated)

Catatan/
2018 Notes 2017
EKUITAS EQUITY
Ekuitas yang diatribusikan kepada Equity attributable to owners

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pemilik entitas induk of the parent
Modal saham Share capital
Modal dasar - 400.000.000 saham, Authorized - 400,000,000 shares,
nilai nominal Rp2.500 at par value of Rp2,500

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(nilai penuh) per saham (full amount) per share
Modal ditempatkan dan disetor Issued and paid-up capital
penuh - 200.000.000 saham 53.576 23 53.576 - 200,000,000 shares

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Tambahan modal disetor (18.178) (18.178) Additional paid in capital
Selisih kurs karena penjabaran Differences arising from

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laporan keuangan konsolidasian translation of foreign currency
dalam mata uang asing - 16.559 consolidated financial statements
Pengukuran kembali atas liabilitas Remeasurement of net defined

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imbalan pasti neto 2.955 (2.993) benefit liabilities
Saldo laba Retained earnings
- Ditentukan penggunaannya 1.311.048 25 1.385.714 Appropriated -
- Belum ditentukan penggunaannya 1.088.153 614.029 Unappropriated -
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Jumlah ekuitas yang diatribusikan Total equity attributable
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kepada pemilik entitas induk 2.437.554 2.048.707 to the owners of the parent
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Kepentingan nonpengendali 21.102 19.639 Non-controlling interest

JUMLAH EKUITAS 2.458.656 2.068.346 TOTAL EQUITY

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JUMLAH LIABILITAS DAN TOTAL LIABILITIES AND

EKUITAS 4.531.667 4.780.787 EQUITY
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Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial statements
merupakan bagian yang tidak terpisahkan dari form an integral part of these consolidated financial statements
laporan keuangan konsolidasian ini secara keseluruhan. taken as a whole.
 The original consolidated financial statements included herein
are in the Indonesian language.

PT PERTAMINA HULU ENERGI DAN ENTITAS ANAK/AND SUBSIDIARIES

Lampiran 2/1 Schedule

LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENT OF PROFIT

KOMPREHENSIF LAIN KONSOLIDASIAN OR LOSS AND OTHER COMPREHENSIVE INCOME
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2018 DECEMBER 31, 2018
(Dinyatakan dalam ribuan Dollar AS, kecuali dinyatakan lain) (Expressed in thousand of US Dollars, unless otherwise stated)

Catatan/
2018 Notes 2017

PENDAPATAN USAHA 2.528.089 26 1.999.084 REVENUES

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BEBAN POKOK PENJUALAN COSTS OF REVENUE
Beban eksplorasi (55.786) 27 (44.198) Exploration expenses
Beban produksi (845.642) 28 (703.808) Production expenses

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Beban depresiasi, deplesi, Depreciation, depletion,
dan amortisasi (412.734) 14 (535.729) and amortisation expenses

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Jumlah beban pokok penjualan (1.314.162) (1.283.735) Total costs of revenue

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LABA KOTOR 1.213.927 715.349 GROSS PROFIT

Kerugian akibat penurunan

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nilai goodwill dan aset minyak Loss due to goodwil and oil and gas
dan gas bumi (193.305) 14 (239.341) properties impairment
General and
Beban umum dan administrasi (43.174) 29 (110.289) administration expenses
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Beban pendanaan - neto (19.785) 31g (57.166) Finance costs - net
Pendapatan lain-lain - neto 61.478 36.863 Other income - net
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(194.786) (369.933)
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LABA SEBELUM PAJAK PROFIT BEFORE

PENGHASILAN 1.019.141 345.416 INCOME TAX

Beban/(manfaat) pajak penghasilan: Income tax expense/(benefit):

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Kini 302.136 30c 298.590 Current

Tangguhan 241.593 30e (201.845) Deferred
Penyesuaian tahun lalu (1.316) 30c (2.206) Adjustment in respect of prior years
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JUMLAH BEBAN PAJAK TOTAL INCOME

PENGHASILAN - NETO 542.413 94.539 TAX EXPENSE - NET

LABA TAHUN BERJALAN 476.728 250.877 PROFIT FOR THE YEAR

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OTHER COMPREHENSIVE
PENGHASILAN KOMPREHENSIF LAIN: INCOME:
Pos-pos yang tidak akan direklasifikasi Items not to be reclassified
ke laba rugi to profit and loss
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Pengukuran kembali atas liabilitas Remeasurement of net defined

imbalan pasti neto 5.948 (257) benefit liabilities
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Pos-pos yang akan direklasifikasi Items to be reclassified

ke laba rugi to profit and loss
Selisih kurs karena penjabaran Differences arising from translation
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laporan keuangan konsolidasian of foreign currency consolidated

dalam mata uang asing (16.559) (4.971) financial statements
Pendapatan komprehensif Other comprehensive
lain - neto setelah pajak (10.611) (5.228) income - net of tax

JUMLAH PENGHASILAN
KOMPREHENSIF TOTAL COMPREHENSIVE
TAHUN BERJALAN 466.117 245.649 INCOME FOR THE YEAR

Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial statements
merupakan bagian yang tidak terpisahkan dari form an integral part of these consolidated financial statements
laporan keuangan konsolidasian ini secara keseluruhan. taken as a whole.
 The original consolidated financial statements included herein
are in the Indonesian language.

PT PERTAMINA HULU ENERGI DAN ENTITAS ANAK/AND SUBSIDIARIES

Lampiran 2/2 Schedule

LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENT OF PROFIT

KOMPREHENSIF LAIN KONSOLIDASIAN OR LOSS AND OTHER COMPREHENSIVE INCOME
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2018 DECEMBER 31, 2018
(Dinyatakan dalam ribuan Dollar AS, kecuali dinyatakan lain) (Expressed in thousand of US Dollars, unless otherwise stated)

Catatan/
2018 Notes 2017

LABA TAHUN BERJALAN

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YANG DAPAT PROFIT FOR THE YEAR
DIATRIBUSIKAN KEPADA: ATTRIBUTABLE TO:
- Pemilik entitas induk 474.124 248.885 Owners of the parent -

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- Kepentingan nonpengendali 2.604 1.992 Non-controlling interests -

JUMLAH 476.728 250.877 TOTAL

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JUMLAH PENGHASILAN

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KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE
BERJALAN YANG DAPAT INCOME FOR THE YEAR
DIATRIBUSIKAN KEPADA: ATTRIBUTABLE TO:
- Pemilik entitas induk 463.513 243.657 Owners of the parent -

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- Kepentingan nonpengendali 2.604 1.992 Non-controlling interests -

JUMLAH 466.117 245.649 TOTAL

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Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial statements
merupakan bagian yang tidak terpisahkan dari form an integral part of these consolidated financial statements
laporan keuangan konsolidasian ini secara keseluruhan. taken as a whole.
 The original consolidated financial statements included herein
are in the Indonesian language.

PT PERTAMINA HULU ENERGI DAN ENTITAS ANAK/AND SUBSIDIARIES

Lampiran 3 Schedule

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LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

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UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2018 DECEMBER 31, 2018
(Dinyatakan dalam ribuan Dolar AS, kecuali dinyatakan lain) (Expressed in thousands of US Dollars, unless otherwise stated)

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Diatribusikan kepada pemilik entitas induk/Attributable to the owners of the parent

Selisih kurs
karena penjabaran Cadangan Jumlah
laporan keuangan penyesuaian ekuitas yang

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Pengukuran konsolidasian dalam nilai wajar - diatribusikan
kembali atas mata uang asing/ neto kepada pemilik
Saldo laba/Retained earnings liabilitas imbalan Differences arising setelah pajak/ entitas induk/
Modal Belum Tambahan pasti neto/ from translation of Reserve for Total equity Kepentingan
saham/ Ditentukan ditentukan modal disetor/ Remeasurement foreign currency fair value attributable nonpengendali/

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Catatan/ Share penggunaannya/ penggunaanya/ Additional of net defined consolidated adjustment - to owners Non-controlling Jumlah ekuitas/
Notes capital Appropriated Unappropriated paid in capital benefit liabilities financial statements net of tax of the parent interests Total equity

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Saldo Balance as at
1 Januari 2017 53.576 1.425.163 439.851 (18.178) (2.736) 21.530 2.473 1.921.679 18.665 1.940.344 January 1, 2017

Pembagian dividen 24 - (114.156) - - - - - (114.156) (1.018) (115.174) Dividend declared

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Cadangan wajib serta Statutory reserve
cadangan umum dan and investment
investasi 25 - 74.707 (74.707) - - - - - - - reserve

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Jumlah penghasilan
komprehensif tahun Total comprehensive
berjalan - - 248.885 - (257) (4.971) (2.473) 241.184 1.992 243.176 income for the year

Saldo
31 Desember 2017 53.576 1.385.714 614.029
on (18.178) (2.993) 16.559 - 2.048.707 19.639 2.068.346
Balance as at
December 31, 2017
ed

Pembagian dividen 24 - (74.666) - - - - - (74.666) (1.141) (75.807) Dividend declared

Jumlah penghasilan
komprehensif tahun Total comprehensive
berjalan - - 474.124 - 5.948 (16.559) - 463.513 2.604 466.117 income for the year
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Saldo Balance as at
31 Desember 2018 53.576 1.311.048 1.088.153 (18.178) 2.955 - - 2.437.554 21.102 2.458.656 December 31, 2018
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Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan The accompanying notes to the consolidated financial statements form an integral part of these
dari laporan keuangan konsolidasian ini secara keseluruhan. consolidated financial statements taken as a whole.
 The original consolidated financial statements included herein
are in the Indonesian language.

PT PERTAMINA HULU ENERGI DAN ENTITAS ANAK/AND SUBSIDIARIES

Lampiran 4 Schedule

LAPORAN ARUS KAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CASH FLOWS

UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2018 DECEMBER 31, 2018
(Dinyatakan dalam ribuan Dollar AS, kecuali dinyatakan lain) (Expressed in thousands of US Dollars, unless otherwise stated)

2018 2017

ARUS KAS DARI CASH FLOWS FROM

AKTIVITAS OPERASI: OPERATING ACTIVITIES:

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Penerimaan kas dari pelanggan 1.344.742 1.066.432 Cash receipts from customers
Pembayaran kas kepada pemasok (554.485) (633.783) Cash paid to suppliers
Penyediaan dana dari Pertamina 595.500 719.197 Cash provided by Pertamina

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Pembayaran kas untuk pajak Cash paid for income
penghasilan dan pajak lainnya (396.949) (440.573) taxes and other taxes
Penerimaan kas dari Pemerintah 102.223 63.218 Cash receipts from the Government

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Pembayaran kas ke Pemerintah (127.444) (116.245) Cash paid to the Government
Pembayaran kas untuk Cash paid to other

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aktivitas operasi lainnya (79.992) (59.992) operating activities
Pembayaran manfaat pensiun (3.169) (2.537) Cash paid for retirement benefits

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Kas neto yang diperoleh dari Net cash generated from
aktivitas operasi 880.426 595.717 operating activities

ARUS KAS DARI AKTIVITAS CASH FLOWS FROM INVESTING

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INVESTASI: ACTIVITIES:
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Pembelian aset minyak dan gas bumi (490.882) (166.571) Purchase of oil and gas properties
Penerimaan dividen Dividend received from
dari perusahaan asosiasi 77 67 associated company
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Kas neto yang digunakan untuk Net cash used in

aktivitas investasi (490.805) (166.504) investing activities
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ARUS KAS DARI AKTIVITAS CASH FLOWS FROM FINANCING

PENDANAAN: ACTIVITIES:
Pembayaran pinjaman kepada Loan repayment to
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Pertamina (210.000) (425.466) Pertamina

Pembayaran dividen (75.388) (14.327) Payment of dividend
Penambahan dana yang dibatasi Addition to restricted
penggunaannya (500) (14.837) funds
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Penerimaan pembayaran pinjaman 7.681 13.750 Loan repayment receipt

Kas neto yang digunakan untuk Net cash used in
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aktivitas pendanaan (278.207) (440.880) financing activities

KENAIKAN/(PENURUNAN) NETO NET INCREASE/(DECREASE) IN

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KAS DAN SETARA KAS 111.414 (11.667) CASH AND CASH EQUIVALENTS

Efek perubahan nilai kurs pada Effect of exchange rate chages

kas dan setara kas (1.667) (506) on cash and cash equivalents
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SALDO KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS

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PADA AWAL TAHUN 107.503 119.676 AT BEGINNING OF THE YEAR

SALDO KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS

PADA AKHIR TAHUN 217.250 107.503 AT END OF THE YEAR

Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial statements
merupakan bagian yang tidak terpisahkan dari laporan form an integral part of these consolidated financial statements
keuangan konsolidasian ini secara keseluruhan. taken as a whole.