Moving Fast, Pertamina Continues Transformation to Speed Up Business Development

Jakarta, June 13, 2020 – Following to the General Meeting of Shareholder of PT Pertamina (Persero) which was held on Friday (12/6), Pertamina moves fast to continue the business transformation by set up the subholding management. 

Today, Pertamina inaugurated the Subholding which is a part of the formation of Oil and Gas Holding and is an elaboration of the roadmap of Ministry of State-Owned Enterprises which is listed in the White Paper on the Establishment of Oil and Gas Holding.

There are five subholdings that have been formed namely Upstream Subholding, whose operations are handed over to PT Pertamina Hulu Energi, Gas Subholding (PT Perusahaan Gas Negara), Refinery & Petrochemical Subholding (PT Pertamina Kilang International), Power & NRE Subholding (PT Pertamina Power Indonesia) and Commercial & Trading Subholding (PT Patra Niaga). In addition, there is also a Shipping Company where it's operation is given to PT Pertamina International Shipping.

Pertamina's CEO, Nicke Widyawati said that the formation of oil and gas holding, 5 subholding and 1 shipping company is a strategic step that will be recorded in Pertamina's history, since it is an initiative that is undertaken in order to adapt to changes in the future, agile, fast and focus on the aggressive business development.

"The current transformation is to prepare Pertamina's business line to grow and to be independent. Now, Pertamina's business scope is very wide, with different challenges and competition as well as having specific risks in each. Therefore, with this subholding, each business will be able to move faster and more aggressive to develop world-class capabilities and business scale growth that will support Pertamina to become a leading global energy company with a market value of $ 100bn, "said Nicke.

For this reason, in accordance with Decree No. SR-396 / MBU / 06/2020 dated June 12, 2020, Nicke immediately appoint and confirm the officials of each subholding who will be the Director of the company.

Vice President Corporate Communication of Pertamina, Fajriyah Usman, revealed that the event which was held on Saturday with 36 officials inaugurated was a new and very memorable experience. Besides being accompanied by the song of Bagimu Negeri which was a solemn song and also brought the spirit of nationalism, this massive inauguration was also carried out by utilizing digital technology through video conferencing as part of Pertamina's adherence to the Covid 19 protocol.

"In the Subholding management structure, Pertamina consistently places Directors from a number of relatively young and high-quality career workers who are expected to become new energy and as Pertamina's effort to prepare future leaders. In addition, the composition of management is also strengthened by experienced external professionals and is expected to make a lot of new breakthroughs for future business growth. Women are also among the Directors of the Subholding, "said Fajriyah.

Furthermore, previous officials as seniors were also present and willingly let go of the leadership and relay it to their successors, so that the handover of positions could immediately be carried out and followed by the reading of the commitments of new officials to achieve performance and compliance for LHKPN (State Organizer Asset Report) reporting and HSSE implementation.

Moreover, Fajriyah revealed that the Chief Executive Officer (CEO) of each subholding inaugurated by CEO Pertamina, Nicke Widyawati as shareholders on Saturday, June 13, 2020 was:

- CEO of Upstream Subholding (PT Pertamina Hulu Energi), Budiman Parhusip.

- CEO of Refinery & Petrochemical Subholding, Ignatius Tallulembang and Deputy CEO, Budi Santoso Syarif.

- CEO of Power & NRE Subholding (PT Pertamina Power Indonesia), Heru Setiawan.

- CEO of Commercial & Trading Subholding (PT Patra Niaga), Mas'ud Khamid.

- CEO of Shipping Company (PT Pertamina International Shipping PIS), Erry Widiastono

Some of the Subholding's CEOs were previously Pertamina's Directors, while Dharmawan H Samsu and Basuki Trikora Putra also received new assignments as President Commissioner at Subholding. For more complete information on the Subholding's Board of Directors (BOD) being inaugurated today can be found at https://pertamina.com/en/name-name-bod-subholding-pertamina-infirmation-13-june-2020. **