Indonesia - 06

Indonesia: Pertamina: Trouble for Soetjipto?

Over the last few months, Pertamina appears to have had many of its wishes fulfilled in a series of positive developments. On 18 June President Joko Widodo announced that Pertamina will be the operator and given majority control of the country’s largest gas-producing PSC, Mahakam, beginning in 2018. Pertamina will hold a 70% share, while the two IOCs that currently operate the block will retain a 30% share. The month before, Pertamina CEO Dwi Soetjipto noted in his 21 May presentation to the Indonesian Petroleum Association (IPA) that the company has a smaller share of national oil and gas production than other NOCs: Pertamina produces only 24% of Indonesia’s oil and gas, compared to the…

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