Pertamina expects to privatised in 2003.

Indonesia's state-run oil and gas giant Pertamina should be privatised in 2003, Mines and Energy Minister Purnomo Yusgiantoro said on Wednesday.

"The transition of Pertamina to a private (company) is expected to be completed by 2003," Purnomo told reporters.

The move is dependent on a new oil and gas law which parliament will debate this year.

"Clearly, Pertamina has to wait until the law on oil and gas is completed, but in the meantime Pertamina must reevaluate its assets to determine which assets will stay with the company and which ones will go to the government," he said.

The new law on oil and gas was expected to strip Pertamina of its monopoly over the oil sector, including domestic sales of fuel, Purnomo said.(*)