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Indonesia: PGN to enter Pertamina on Jan 25, step toward oil and gas holding
State-owned gas distributor PT Perusahaan Gas Negara (PGN) will hold an extraordinary shareholders meeting on Thursday as an initial step toward the establishment of an oil and gas holding firm, together with state-owned energy firm Pertamina.
One issue that will be discussed during the shareholder meeting is a handover of 57 percent of PGN shares to Pertamina, said Pertamina human resources development director Nike Widyawati in Jakarta on Tuesday, as reported by kompas.com.
“So, on Jan. 25, there is a formal step for PGN to enter to Pertamina,” said Nike at the State-Owned Enterprises (SOEs) Ministry.
Meanwhile, SOEs Ministry deputy for mining business, strategic industry and media affairs Fajar Harry Sampurno added that during the shareholders meeting, PGN would only seek approval from the shareholders for asset handover to Pertamina, known as the inbreng mechanism.
Therefore, Fajar added, such a process did not need to wait for the issue of a government regulation (PP) on oil and gas holding SOEs.
“So the steps are as follows: extraordinary shareholders meeting, issuance of PP and the issuance of inbreng certificate,” Harry added.
Meanwhile, the PP draft on oil and gas holding SOEs has been signed by Finance Minister Sri Mulyani Indrawati and SOEs Minister Rini Soemarno. Currently the draft is in the State Secretariat, waiting for an approval from President Joko “Jokowi” Widodo.
Under the oil and gas holding, PGN will become a subsidiary of Pertamina, which will be responsible for midstream and downstream gas business. (bbn)
Source: http://www.thejakartapost.com/news/2018/01/24/pgn-to-enter-pertamina-on-jan-25-step-toward-oil-and-gas-holding.html