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Your letters: Give more opportunities to Pertamina
A small-scale survey done by a private TV company asked: Which oil company is the largest: Total (France), Chevron (US) or Pertamina (Indonesia)? Probably because of nationalism, most participants chose Pertamina
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small-scale survey done by a private TV company asked: Which oil company is the largest: Total (France), Chevron (US) or Pertamina (Indonesia)? Probably because of nationalism, most participants chose Pertamina.
In fact, Chevron is the biggest, with a 40-50 percent market share. The reality is born of the understanding that oil is just a commodity according to Law No. 22/2001 on oil, rather than a tool of national interest and national defense, which should be maintained through the ownership, or at least majority possession and production, by the state through Pertamina.
We should learn from Petronas (Malaysia) and Statoil (Norway), which have reached 60 percent of total production (both nationally and globally). In addition, Statoil has revenues of US$723 billion, with total assets of $784 billion and Petronas possess an income of $97 billion and a total of $157 billion. Pertamina, meanwhile, is falling behind with an income of $70 billion and total assets equal to $40 billion.
One of the several reasons why production and income includes insignificant Pertamina involvement in the oil management tenders of other countries. I would follow the example of Petronas. The state company was actually made a 'priority' by its leaders. Petronas at least gets 60 percent of earnings paid to the Malaysian government. While in Indonesia, the Pertamina case is totally different.
The total profit is turned over to the state, while the budget for Pertamina goes through the initial proposal submission. In addition, all locations of strategic oil in Malaysia have been earmarked for Petronas while foreign companies only get locations that are difficult to make use of. Therefore, the effort to take over Mahakam block by Pertamina should be encouraged by all elements of the nation, starting with the government, state enterprises, stakeholders, academics and common citizens.
The impact of the management of the Mahakam block by Pertamina could strengthen national energy security and increase revenue for the nation.
Muhammad Dudi Hari Saputra
Samarinda
