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Government evaluates fate of Saka Energy
The choices include handing it over to state-owned energy company Permina, selling it to Pertamina or listing it on the Indonesia Stock Exchange (IDX).
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PGN president director Gigih Prakoso (left), State-Owned Enterprises Ministry strategic industry and media affairs undersecretary Fajar Harry Sampurno (center) and Pertamina investment planning and risk management director Heru Setiawan pose for photographs after attending an event in Jakarta on Dec. 28, 2018. (Courtesy of/PGN)
T
he government through state-owned gas subholding company PT Perusahaan Gas Negara (PGN) has started to evaluate the future of Saka Energy Indonesia, PGN’s subsidiary, as the subholding company is now focusing on downstream operations.
State-Owned Enterprises (SOEs) Ministry undersecretary for mining, strategic industries and media affairs Fajar Harry Sampurno told the press on Tuesday that the evaluation would be completed by September.
He said the choices include handing it over to state-owned energy company Permina, selling it to Pertamina or listing it on the Indonesia Stock Exchange (IDX).
PGN needs to evaluate its ownership on Saka Energi Indonesia after the SOEs Ministry grouped SOEs based on the type of their business.PGN is tasked with focusing on gas downstream operations and becoming a gas subholding company under Pertamina after PGN completed the purchase of 51 percent of Pertamina’s gas subsidiary, PT Pertamina Gas (Pertagas), last year. The deal was worth Rp 20.18 trillion (US$1.4 billion). (bbn)
