PT PERTAMINA is a State
Owned oil & gas company (National Oil Company), established on
December 10, 1957 under the name PT PERMINA. In 1961 the company changed
its name to PN PERMINA and after the merger with PN PERTAMIN in 1968 it
became PN PERTAMINA. With the enactment of Law 8 of 1971 the company
became PERTAMINA. This name persisted until after PERTAMINA changed its
legal status to PT PERTAMINA (PERSERO) on October 9, 2003.
PERTAMINA’s
scope of business incorporates the upstream and downstream sectors. The
upstream sector covers oil, gas and geothermal energy exploration and
production both domestically and overseas. The foregoing is pursued
through own operations and through partnerships in the form of joint
operations with JOBs (Joint Operating Bodies), TACs (Technical
Assistance Contracts) and JOCs (Joint Operating Contracts), whereas the
downstream sector includes processing, marketing, trading and shipping.
Commodities produced range from Fuel (BBM) and Non Fuel (Non BBM), LPG,
LNG, petrochemicals to Lube Base oil.
With
the enactment of the Law of the Republic of Indonesia No. 22 of 2001 on
November 23, 2001 relating to Oil and Gas, Law No. 8 of 1971 relating
to the State Oil and Gas Mining Company was declared void. In accordance
with the provisions of Law No. 22 of 2001, PERTAMINA was transformed
into a Public Liability Company (Persero) designated PT. PERTAMINA
(PERSERO) under Government Regulation No. 31 of 2003. All existing
PERTAMINA provisions including its structural organization, employment
guidelines and procedures as well as other matters associated with its
duties and responsibilities, unless such matters are in contravention of
the said Government Regulation, are declared to continue in force until
the Company provides otherwise.
PT
PERTAMINA (PERSERO) was established under Notarial Deed of Lanny Janis
Ishak, SH No. 20 of September 17, 2003, and ratified by the Minister for
Law & Human Rights under Decision No. C-24026 HT.01.01 on October
9, 2003. The above proceeded in accordance with the provisions set forth
in Law No. 1 of 1995 relating to Limited Liability Companies,
Government Regulation No. 12 of 1998 relating to Public Companies
(Persero), and Government Regulation No. 45 of 2001 relating to
Amendment to Government Regulation No. 12 of 1998.
Consistent
with its deed of establishment, the objective of the PERSERO is to
engage in oil and gas exploitation, domestically and overseas, as well
as in other exploitation associated with or supporting oil and gas
operations.
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