JAKARTA: Pertamina president director Simon Aloysius Mantiri says that the merger process involving three Indonesian subsidiaries, PT Pertamina Patra Niaga, PT Kilang Pertamina Internasional and PT Pertamina International Shipping, is currently in its final stages and is expected to be concluded by the end of the year.
Following this internal preparation, the state-owned oil and gas company will engage with its shareholder, the state asset fund Danantara, which is acting on behalf of the state, for final approval.
“We are working towards it, hopefully by January 1, 2026,” Simon told reporters at the Energy and Mineral Resources Ministry building in Jakarta.
He explained that while the current subholding structure was once the optimal strategy, today’s business climate demands a more integrated approach.
“We have compared various merger scenarios and this is by far the best decision to merge the three subholdings,” he said. Although Simon declined to reveal the name of the new, combined company, he confirmed that the plan had been developed with the shareholders’ full consideration.
“There are many processes, but the important thing is the spirit of improvement. What we need to do now is keep improving, improvement, improvement, improvement, continuous improvement,” Simon added.
He also addressed the ongoing plan to separate Pertamina’s airline service Pelita Air to be merged with national flag carrier Garuda Indonesia, confirming that discussions are still underway and involve internal assessments from all relevant parties, including Pertamina, Pelita Air and Danantara.
This consolidation, previously targeted for completion by the end of 2025, is a key part of Pertamina’s efforts to align its corporate strategy with the policy of the State-Owned Enterprises (SOEs) Regulatory Agency (BP BUMN).
The planned integration of Pelita Air with Garuda Indonesia is also intended to “strengthen synergies” in the aviation sector and ensure more efficient business management. — The Jakarta Post/ANN
