Pertamina hails government?s policy on its assets

Baihaki Hakim, Pertamina?s president director hailed on Wednesday the government?s policy related to the status of the assets of the state owned oil and gas company stated in the draft of the regulation on the change in the company?s status to a pure business entity, Koran Tempo reported on Friday.

The widely diversified oil and gas company which at present operates under a special law and also acts as a regulatory body will retain all of its assets despite the change in the company?s status into a pure business entity.

Baihaki said that the new policy as stated in the draft was line with the company?s request. The technical team for the formulation of the law had earlier demanded Pertamina to divest all the assets outside its core business activities.

At present, Pertamina?s business activities cover a wide range of business fields not only oil and gas downstream and upstream activities but also hotel, aviation, insurance and oil shipment and distribution. (*)