Pertamina still entrusts EPT for refinery maintenance
Monday, November 13 2000 - 04:30 AM WIB
State oil and gas firm Pertamina will still use the services of PT Elnusa Petro Teknik (EPT) for the maintenance of seven refinery plants until January 2001 despite Pertamina's cancellation of the contract with EPT effective since Nov. 3.
Pertamina's processing director Arrifi Nawawi said that Pertamina would form a new subsidiary that all of its stake would be controlled by Pertamina to take over the roles of PT EPT to maintain the seven refineries.
"In this transitional period until the next two months, EPT will still be responsible for the maintenance of our refinery plants. So the name of EPT is still there although the contract has been cut," Arrifi said on Sunday.
Arrifi said he did not know if EPT would still continue working on the same business or switch business or be closed down after January 1. "What's sure is that Pertamina does not care about that."
EPT business is solely in the maintenance of Pertamina's refinery plants. Before the establishment of EPT, Pertamina maintained all the refinery plants through its maintenance department. After the establishment of EPT, most of those working for Pertamina were transferred to EPT.
In related development, Pertamina president Baihaki Hakim said the cancellation of the contract with EPT was one of the efforts to improve efficiency in the maintenance of refinery plants.
When asked about the future of EPT, Baihaki said that Pertamina would be neutral and was ready to take over EPT workers and employ them in the new company that would be established to replace the role of EPT.
EPT is partly owned by Pertamina through its subsidiary PT Elnusa Tbk. The other shareholder of EPT is Bambang Trihatmodjo, the second son of former president Soeharto.
EPT's financial record as of March 31, 2000 showed that the company booked a net loss of Rp 246.1 billion, partly because the company took aside some of its revenue to cover its investment loss in the mandatory convertible bonds issued by PT Marga Raya Jawa Tol that builds a toll road in East Java. (*)