The Jakarta Post
State-owned gas subholding company PT Perusahaan Gas Negara (PGN) replaced on Monday outgoing president director Jobi Triananda Hasjim with Gigih Prakoso, who was formerly the investment planning and risk management director at state-owned oil and gas holding company Pertamina.
PGN president commissioner IGN Wiratmaja Puja told the press that the decision to replace Jobi – made during Monday’s extraordinary shareholders meeting – had come from its parent company, Pertamina.
“The decision is in accordance with rgw existing regulation, under which all authority rests with the shareholder of the series A Dwiwarna stock [Pertamina],” Wiratmaja said at a press briefing.
According to the PGN website, Pertamina is the majority owner of PGN with 56 percent shares as of April 2018, while the rest is owned by the public.
Meanwhile, PGN infrastructure and technology director Dilo Seno Widagdo said the decision would not affect PGN's integration into Pertamina, as Gigih had been on the integration team.
“He (Gigih) followed our discussion on integrating infrastructure, communication, vision and mission. Hence, I believe he will be committed to implementing the [PGN's] integration blueprint,” said Dilo.
In June, PGN signed a sales and purchase agreement to acquire 51 percent of Pertamina’s gas subsidiary PT Pertagas, which was then worth $1.2 billion.
The integration of PGN and Pertagas is the final stage of transforming Pertamina into a oil and gas holding company. (bbn)