SKK Migas supports Pertamina to share its assets

The division of badets is effected by releasing shares of participation in oil and gas blocks

REPUBLIKA.CO.ID, JAKARTA – Special Unit for upstream oil and gas activities (SKK Migas) supports the decision of the Minister of SOE to support PT Pertamina (Persero) to take strategic measures of the company, including share down badets in the upstream oil and gas sector. Sharedown badets realized by removing some stake in oil and gas blocks.

Head of SKK Migas, Amien Sunaryadi said Minister SOE's policy must have been carefully considered and become the best way. "We hope this measure will enhance Pertamina's special performance in the upstream oil and gas areas in Indonesia that are managed by Pertamina, and that it can significantly boost domestic oil and gas production," said Amien. Thursday, July 19th. SKK Migas also hopes that this strategic move will allow PT Pertamina (Persero) to intensify its efforts in the exploration of new upstream oil and gas reserves and to improve the implementation of the work program in the upstream oil and gas sector

. reporter, the Minister of Social Affairs Rini Soemarno at the end of last month signed a letter approving PT Pertamina (Persero) to sell its badets to the private sector. This letter is the response to a letter from Pertamina dated July 6, 2018.

In the letter, there are at least four corporate actions that Pertamina will undertake, including the sale of its badets to the private sector. Here are the details:

1. Share selective upstream badets (including, but not limited to, holdings shares and other forms) while maintaining control of Pertamina on its strategic badets and seeking credible partners acquire other strategic values, such as access to upstream badets in other countries.

2. To delegate the activities of RU Ivilacap and RU V Balikpapan Business Unit to subsidiaries and potential partner farms in subsidiaries in accordance with the Master Plan for Refinery Development (RDMP).

3. Additional investment to expand the network to sell general fuel at an economical price, such as Pertashop.

4. In a letter, writes Rini, the directors of Pertamina were invited to conduct a thorough examination before undertaking such an operation and to obtain the approval of the commissioners and the GMS.