Pertamina has strong commitment to providing energy and developing new and renewable energy in order to sustain the national energy security and self-sufficiency. As a holding company in energy sector officially announced by Indonesia’s Ministry of State Enterprises on June 12th, 2020, Pertamina now plays a strategic role to lead five sub-holdings in energy, i.e. Upstream Sub-holding whose operation is placed under PT Pertamina Hulu Energi, Gas Sub-holding which is operated under PT Perusahaan Gas Negara, Refinery & Petrochemical Sub-holding which is operated under PT Kilang Pertamina Internasional, Power & NRE Sub-holding managed under PT Pertamina Power Indonesia, and Commercial & Trading Sub-holding operated under PT Patra Niaga. Adding to that, Pertamina also operated Shipping Company through PT Pertamina International Shipping.
The new role of Pertamina is indeed a landmark in the Company’s business milestone as well as represents the concrete contribution from Pertamina that for six decades has been committed to ensuring the energy availability, which has energized every sector of life in Indonesia and many places abroad.
Pertamina’s excellent competence is built upon a solid fundamental and a long history of the company’s experience in realizing the vision of building a national energy security. The history said that Pertamina has built its existence since 1950s, when Government of Republic of Indonesia appointed the National Army to establish PT Eksploitasi Tambang Minyak Sumatera Utara to undertake a responsibility for running an oil field management in Sumatera. Then the company changed its name into PT Perusahaan Minyak Nasional, abbreviated PERMINA, on December 10th, 1957, the date which is later on celebrated as Pertamina’s anniversary.
In 1960, PT Permina embraced a new status of being a State Company (PN) Permina. Then, PN Permina was merged with PN Pertamin to establish PN Pertambangan Minyak dan Gas Bumi Negara (Pertamina) on August 20th,1968.
Then, Pertamina received a mandate as regulated under Law No.8 of 1971, which confirmed the company’s role of producing and processing the oil and gas from oil fields and taking responsibility of ensuring the availability of fuel and gas across Indonesia. Then, as referred in Law No.22 of 2001, Government determined a new status of Pertamina, thus the Public Service Obligation (PSO) was exercised through business activities.
Pursuant to Government Regulation No.31 of 2003 dated 18 June 2003, Perusahaan Pertambangan Minyak dan Gas Bumi Negara changed its name into PT Pertamina (Persero) which runs an integrated oil and gas business, from upstream to downstream. PT Pertamina (Persero) was established on September 17th, 2003, pursuant to the Notarial Deed No.20 of 2003. On December 10th, 2005, Pertamina decided to choose arrow to replace sea horse as its new logo with basic colors: green, blue and red, reflecting the dynamic yet environmental-care spirit.
Then on July 20th, 2006, PT Pertamina (Persero) initiated a fundamental transformation, including the businesses, through the launch of new corporate vision, “to be a world-class national oil company “
Later on, on December 10th, 2007, Pertamina through PT Pertamina International EP carved an important momentum by completing an acquisition over 72.65% shares of a French oil and gas company, Maurel et Prom (M&P).
In 2011, Pertamina launched a vision “to be a world-class national energy company”. In an EGMS held on July 19th, 2012, Pertamina executed an additional issued and paid-up capital and made a business expansion.
On December 14th, 2015, Minister of State Enterprises in a GMS gave consent to the amendment of Pertamina’s Articles of Association in regard to optimization of human resources, increase in issued and subscribed capital by the state as well as actions by Board of Directors that required written approval from Board of Commissioners. Such amendment was stated in a Deed Number 10 dated 11 January 2016 by Notary Lenny Janis Ishak, SH.
In 2017, Pertamina was one step closer to the realization of its vision to be the world-class national energy company following the successful acquisition over Maurel et Prom (M&P). Following the successful acquisition, as of February 1st, 2017, through its subsidiary, PT Pertamina International EP, Pertamina sat as the majority shareholder in M&P with 72.65% ownership. As the majority shareholder in M&P, Pertamina will be able to operate in 12 countries in four continents.
Even after six decades of evolution, Pertamina always reaffirms its solid commitment to continue transforming to build a strong foundation for its vision accomplishment to be a world-class energy company, which has a flexible, agile, aggressive, adaptive and focused organization to support the further business expansion. With a new structure, Pertamina is ready to anticipate future dynamic in the years ahead and is optimistic to always create new growth opportunities through investments and business optimalization, which will provide more rooms for Pertamina to grow bigger as the expectations of the shareholders and other stakeholders.