Erick Thohir Wants Pertamina To Have A Market Value Of 100 Billion U.S. Dollars

Minister of SOEs, Erick Thohir. (Photo: Doc. Between)

JAKARTA - Minister of State-Owned Enterprises (SOE) Erick Thohir believes PT Pertamina (Persero) can become a global energy champion in 2024. Thus, the company's market value in the next three years could reach 100 billion US dollars (US) or equivalent to Rp1,457 trillion (exchange rate Rp14,570 per US dollar).

"Hopefully Pertamina can realize its aspirations as a global energy champion in 2024 with a market value of 100 billion dollars," he said in a written statement, quoted Friday, April 9.

Erick said Pertamina's efforts to become a global energy champion need to be strengthened by business model innovation, technology leadership, increased investment, and talent or human resources development.

Therefore, Erick Thohir invites innovators to contribute the best contribution to the progress of the nation and the country, among others proudly use local products to encourage the growth of domestic industries. That is in accordance with the direction of President Joko Widodo (Jokowi).

According to Erick, Pertamina's innovative work is necessary to build the independence and excellence of the nation without having to depend on products made by other nations. He hopes that the innovators' work does not stop as a prototype, but can continue towards commercial investment in order to win global competition.

"I invite innovators to contribute to the progress of this nation and the country we love. Contribute to humanity and a better life. We should be proud of Indonesian products that are the result of innovation of the nation's children," he said.

Currently, said Erick, Pertamina has taken a number of steps to achieve this target by continuing the main agenda of energy transition in order to become a leading global energy company with a market value of 100 billion US dollars in 2024, among others by transforming through holding restructuring and subholding running since mid-July 2020.

Pertamina has also recently held the Annual Pertamina Quality (APQ) Award 2021 to reward workers in Pertamina Group who have produced innovative works and created value creation worth Rp33.36 trillion.