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Jakarta Post

Pertamina set for restructure

  • Viriya P. Singgih

    The Jakarta Post

Jakarta   /   Wed, February 14 2018   /  12:27 am

The government has ordered state-owned energy giant Pertamina to scrap its gas business directorate prior to its transformation into a holding company, while also expanding its marketing directorate into three divisions to make it more customer oriented.The government plans to transfer its 57 percent stake in state-owned gas firm Perusahaan Gas Negara (PGN) to Pertamina by March at the latest, as part of the move to transform the latter into an oil and gas holding company.Under the restructure, PGN will be consolidated with Pertamina’s gas subsidiary PT Pertamina Gas (Pertagas). PGN will then serve as the subholding firm overseeing the midstream to downstream gas business.“That’s why we decided to scrap Pertamina’s gas business directorate as it will be handled by the subholding firm [PGN],” Fajar Harry Sampurno, State-Owned Enterprises Ministry’s undersecretary for mining, s...