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Jakarta Post

Pertamina set to dominate Indonesia’s oil, gas sector

  • by Kharishar Khafi Hotli Simanjuntak
Jakarta   /   Tue, March 13 2018   /  12:32 am

State-owned energy giant Pertamina is set to conclude its transformation into a holding firm and complete the acquisition of eight upstream blocks soon, which will make it more dominant than ever in the country’s oil and gas business.Government Regulation (PP) No. 6/2018 on additional state capital injections to Pertamina issued on Feb. 28 will serve as the legal basis for the government’s plan to transfer its 57 percent stake in gas distributor Perusahaan Gas Negara (PGN) to the oil and gas giant.Pertamina human resources director Nicke Widyawati said the value of the transferred shares would be stipulated in the upcoming finance ministerial decree (KMK) expected to be issued on March 16.“After the KMK’s issuance, we will hold an extraordinary general shareholders meeting on the following Monday [March 19], when PGN will formally come under Pertamina’s management,” Nicke sai...