New Pertamina boss vows to bring Pertamina to glory, fight ?oil mafia?

Newly inducted president director of Pertamina vowed on Wednesday to bring the troubled state oil and gas firm to become world-class oil firm.

?The board of directors will fight all out to bring Pertamina to become world class oil firm like Petronas, and we will also fight against ?oil mafia? which had caused huge inefficiency in Pertamina,? said president Widya Purnama, who until yesterday was president of telecommunication operator PT. Indosat.

Widya stressed that his main strategy to run Pertamina would be to increase financial efficiency as well as efficiency of Pertamina?s refineries. He also signaled that there will be major restructuring in Pertamina?s personnel. ?We would put the right men on the right places,? he said.

?I?m ready to die for Pertamina,? he said. He, however, failed to give the detailed plan on how he would bring Pertamina to get out of its financial troubles. He also did not give detail how Pertamina would be able to compete with downstream giants, which would enter Indonesia?s lucrative market starting next year.

He also refused to reveal Pertamina?s stance in dealing with major issues Pertamina is facing such as negotiation with US oil giant ExxonMobil on Cepu oil block and hundreds million dollars of settlement of Pertamina?s failing geothermal venture Karaha Bodas Company. (KBC). ?It?s too early. I?m not going to speak about details,? he said.

Pertamina had been in trouble since the enactment of new oil and gas law, which stripped the company of its upstream and downstream privileges, while still maintain obligation to ensure domestic fuel supply. (godang)