Pertamina to complete asset evaluation next week

State oil and gas firm Pertamina will next week complete its evaluation over its assets as part of the company?s preparation to operate as an ordinary limited liability company, according company president director Baihaki Hakim.

The asset evaluation results will be submitted to the government, Baihaki told Commission VIII of the House of Representatives (DPR) in charge of energy and mineral resources affairs.

?With the completion of the asset evaluation, Pertamina will get ready to operate as a limited liability company,? Baihaki said.

Existing oil and gas law, which became effective late 2001, dismantles Pertamina's decades long monopoly over the country?s upstream and downstream oil and gas sectors, thus making Pertamina an ordinary limited liability company.

The government has yet to issue a decree on the new status of Pertamina. (godang)