July 23, 2014 9:45 AM ET

Oil, Gas and Consumable Fuels

Company Overview of PT Pertamina (Persero)

Company Overview

PT Pertamina (Persero), together with its subsidiaries, is engaged in oil, gas, renewable, and new energy businesses in Indonesia and internationally. The company operates through Upstream and Downstream segments. It is involved in the exploration, development, production and supply of crude oil, natural gas and geothermal energy. As of December 31, 2013, its total net proved oil and gas reserves were an estimated 3,547.2 million barrels of oil equivalent (mmboe) and its total net proved plus probable oil and gas reserves were an estimated 4,643.9 mmboe. The company is also engaged in the refining, marketing, distribution, and trading of crude oil, natural gas, refined fuel products, and pet...

Jl. Medan Merdeka Timur No. 1A

Jakarta,  10110


Founded in 1957

24,781 Employees

Key Executives for PT Pertamina (Persero)

President Director and Chief Executive Officer
Age: 56
Director of Finance and Director
Age: 55
Chief Audit Executive
Age: 49
Corporate Secretary
Age: 52
Chief Legal Counsel
Age: 55
Compensation as of Fiscal Year 2014.

PT Pertamina (Persero) Key Developments

PT Pertamina In Talks With Talisman Energy

PT Pertamina (Persero) is in talks with Talisman Energy Inc. (TSX:TLM) to buy stake in Duvernay shale gas acreage in Alberta. Sugiharto, President of Pertamina said that they met Talisman representatives including Chief Executive Hal Kvisle for the possible acquisition. Pertamina has budgeted $7.9 billion for capital expenditures for 2014, including for mergers and acquisitions.

Pertamina Mulls Acquisitions

PT Pertamina (Persero) mulls acquisitions. Pertamina is planning to buy mostly overseas oil and gas assets to help raise its output nearly five-fold to 2.2 million barrels per day by 2025. Pertamina said in statements issued on May 15, 2014, that it plans to acquire mainly oil and gas blocks that are producing or at the development stage, as well as assets that have significant oil reserves. Pertamina did not specify countries where it is planning to look for assets, how much it planned to spend or how it would raise the money. “Non-organic growth through acquisitions of assets overseas will give an important contribution to the growth in Pertamina’s production … and add to the supply of crude oil to fulfill Indonesia’s needs,” Denie S. Tampubolon, Pertamina’s Senior Vice President of upstream business development, said.

PT Pertamina Seeks Acquisitions

PT Pertamina (Persero) seeks acquisitions. Pertamina is eyeing more acquisitions in both the domestic and overseas.

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