Ministry of SOE: Integration of PGN and Pertagas Not Up to 2.5 Billion Dollar

By : Dina Astria And Aldi Firhand | Tuesday, June 05 2018 - 21:11 IWST

PT Pertamina Gas (Pertagas)
PT Pertamina Gas (Pertagas)

INDUSTRY.co.id - Jakarta - PT Perusahaan Gas Negara Tbk (PGN) and PT Pertamina Gas (Pertagas) are reportedly going to integrate, as a follow up to the formation of Holding of State-Owned Enterprises (BUMN) of Oil and Gas.

This was conveyed directly by Deputy Minister of Mining Business, Strategic Industries, and Media Ministry of SOE, Fajar Harry Sampurno, the formation of oil and gas holding was actually completed with the entry of PGN to Pertamina.

"There is still some acquisition process that will be done again," said Fajar on Monday (4/6) yesterday at the Ministry of SOEs, Jakarta.

Meanwhile, the funds to be issued for the two companies' integration proaes, Fajar stated that they still do not know, because the more PGN has the right to know the amount of funding.

However, Fajar said the cost figures for the integration of the two companies are not more than USD 2.5 billion.

"There will be no extraordinary general meeting of shareholders (EGM), because the amount may not be that much, the transaction is not up to USD 2.5 billion," Fajar added.

The business integration of these two SOEs is to encourage national economy and energy security through the management of connected gas infrastructure from western Indonesia to eastern Indonesia.

News Comment

Today's Industry

SMILE to Empower Smallholders

Kamis, 29 Oktober 2020 - 08:35 WIB

Kao Corporation, Apical & Asian Agri Join Hands to Empower Smallholders with SMILE Program

SMILE or the SMallholder Inclusion for better Livelihood & Empowerment program to help independent oil palm smallholders in Indonesia improve their yields, acquire international certification,…

Industrial Area Ilustration

Rabu, 28 Oktober 2020 - 08:40 WIB

CFLD Develop a Strategic Industrial Area which is Supported by Seven New Infrastructures

Segye ASEAN Forum 2020 which is a series of Indonesian and Korean Manufacturing Industry Partnership forum events held, was attended virtually by more than 500 executives from well-known manufacturing…

Hilton – Asia Pacific (Photo by Hilton Asia Pacific - Posts | Facebook)

Selasa, 27 Oktober 2020 - 15:40 WIB

Waldorf Astoria to Debut in Japan with Milestone Signing In Tokyo

Set to open in 2026, Waldorf Astoria Tokyo Nihonbashi to Offer Timeless Luxury and Unrivaled Service in Japan’s Cultural Capital.

Illustration of Fintech Application

Senin, 26 Oktober 2020 - 18:55 WIB

Need for Funds Increased due to Pandemic? This is the Solution!

AdaKami is a peer-to-peer (P2P) lending operator in Indonesia that provides loan facilities (credit) without collateral through an online application.

Ian Hall - Asia-Pacific Client Services Manager, at Synopsys Software Integrity Group

Senin, 26 Oktober 2020 - 11:00 WIB

4 Steps for CISOs to Improve Their Organisation’s Application Security Program

Synopsys recently published its annual BSIMM report, created to help organisations plan, execute, measure, and improve their software security initiatives