Pertamina's total assets reach Rp 125 trillion

The total assets of the state owned oil and gas company Pertamina and its affiliated companies reach about Rp 125 trillion according to the latest appraisal made by the tax directorate general, Koran Tempo reported on Monday.

Pertamina's president director Widya Purnama said in Jakarta last week that the result of the reevaluation of the state-owned oil and gas company's assets had been reported to related government offices including the ministry of finance and the ministry of energy and mineral resources.

Widya said that the tax directorate general had been assigned to reevaluate the total assets of Pertamina following the change in its status to a full business entity in June 2003. "The asset appraisal is needed to determine of the government's equity participation in the company," he said.

Pertamina , which acts as the government's arm in the production of oil and fuel distribution in the country, changed its status into a full business entity in June 2003 in line with the liberalization in the country's oil industry.

Earlier appraisal indicated that Pertamina's total assets reached Rp 138.8 trilliuon. (*)