Pertamina
Renewable Spirit
Semangat Terbarukan |
|
| State-owned enterprise | |
| Industry | Oil and gas |
| Founded | 10 December 1957 |
| Headquarters | Jakarta, Indonesia |
|
Key people
|
Dwi Soetjipto, President & CEO |
| Products | Fuels, lubricants, petrochemicals |
| Revenue |
 US$70.6 billion (2014) |
|
US$ 4.6 billion (2014) |
|
|
US$ 1.5 billion (2014) |
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| Total assets |
 US$ 50.3 billion (2014) |
| Total equity |
US$ 18.0 billion (2014) |
|
Number of employees
|
27,429 (2014) |
| Website | www |
Pertamina (was Perusahaan Pertambangan Minyak dan Gas Bumi Negara, lit. 'State Oil and Natural Gas Mining Company') is an Indonesian state-owned oil and natural gas corporation based in Jakarta. It was created in August 1968 by the merger of Pertamin (established 1961) and Permina (established 1957). The firm is currently (2013) the second-largest crude oil producer in Indonesia behind the US-based Chevron Pacific Indonesia. In 2013 for the first time, Pertamina ranked no. 122 in the Fortune Global 500 list of companies with revenues totalling to $70.9 billion, Pertamina is also the sole Indonesian company to be featured in the list.
In 1957, Dutch assets in petroleum were nationalised, from which Permina was founded as a state-owned oil monopoly, headed by Lieutenant-General Ibnu Sutowo. Ibnu Sutowo's position as the second deputy of Abdul Haris Nasution was the beginning of the army's involvement in the oil industry. Permina distributed oil for the entire archipelago.
Permina founded the Apprentice Technical School (Sekolah Kader Teknik) in Brandan to train and produce experts in the field. To meet this goal Permina established the Oil Academy in Bandung at 1962. Oil Academy's curriculum pertains to the technical aspects of the oil industry, and the graduates turned into the main forces in Pertamin (which later transformed to Pertamina).
In 1960, the Congress enacted a policy that the mining of Indonesian oil and ground gases are only permitted for the state, through a state-administered company. Pertamin, established in 1961, was responsible for the administration, management and controlling of the exploration and production. The policy was short lived. An agreement between the state and foreign companies was affirmed that gradually, oil refinery manufactures and other assets in marketing and distribution were to be sold to Indonesia within five to fifteen years.
In 1968, to consolidate oil and gas industry for its management, exploration, marketing and distribution, Permina and Pertamin merged and became PN. Pertamina. It continued to do little drilling itself, but made production-sharing agreements with foreign companies.
After the merge, Pertamina's production rose considerably (about 15% each in 1968 and 1969, and nearly 20% in 1973). By the end of 1973, it directly produced 28.2% of Indonesia's oil, with agreements of Caltex and Stanvac to produce the rest (67.8% and 3.6%, respectively). Its assets included seven refineries, oil terminals, 116 tankers, 102 other vessels and an airline. It was also active in cement, fertiliser, liquid natural gas, steel, hospitals, real estate, a rice estate, and telecommunications.
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Wikipedia