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View all search resultsPertamina gears up to merge key business arms by year-end
The merger process involving PT Pertamina Patra Niaga, PT Kilang Pertamina Internasional and PT Pertamina International Shipping is expected to be concluded by Jan. 1.
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Pertamina president director Simon Aloysius Mantiri (center) spoke to reporters on Monday at the sidelines of the Downstream Oil and Gas Regulatory Agency (BPH Migas) head and committee members' inauguration ceremony in Jakarta. (JP/Divya Karyza)
P
ertamina president director Simon Aloysius Mantiri revealed that the merger process involving three subsidiaries, PT Pertamina Patra Niaga, PT Kilang Pertamina Internasional and PT Pertamina International Shipping, is currently in its final stages and is expected to be concluded by year-end.
Following this internal preparation, the state-owned oil and gas company will engage with its shareholder, the state asset fund Danantara, which acting on behalf of the state, for final approval.
"We are working toward it, hopefully by January 1, 2026," Simon told reporters at the Energy and Mineral Resources Ministry building in Jakarta on Monday.
He explained that while the current subholding structure was once the optimal strategy, today’s business climate demands a more integrated approach.
“We have compared various merger scenarios [...] and this is by far the best decision to merge the three subholdings," he said.
Although Simon declined to reveal the name of the new, combined company, he confirmed that the plan had been developed with the shareholders’ full consideration.
"There are many processes, but the important thing is the spirit of improvement. What we need to do now is keep improving, improvement, improvement, improvement, continuous improvement," Simon added.
