Pertamina Aims For A Valuation Value Of 100 Billion US Dollars After The Restructuring Process

Illustration (Photo: Doc. Antara)

JAKARTA - PT Pertamina said that the company targets to achieve a company valuation of 100 billion US dollars in line with the decision of the Constitutional Court which ensures that the restructuring process will continue.

Pertamina SVP Corporate Communications and Investor Relations, Fajriyah Usman said, through the restructuring, the company will step on the gas in developing its business while continuing to carry out the government's mandate in providing energy.

"We will continue to move to provide the best for the nation and state. Pertamina is also fully compliant and obedient to the provisions and legal processes, both those that have been decided in the Constitutional Court and other courts", he said as quoted from the official website, Saturday, October 2.

According to Fajriyah, corporate restructuring can provide great benefits in improving Pertamina Group's performance.

For information, since July 2020 Pertamina has formed holdings and sub-holdings, and in September 2021 all Subholdings have been legally authorized.

"With sub-holding, all subsidiaries move according to the scope, opportunities, and business challenges faced so that they can compete at a global level", he said.

Fajriyah revealed that until Semester 1 2021 the sub-holding is claimed to be able to show positive operational performance while strengthening Pertamina's role as an oil and gas holding tasked with maintaining national energy resilience, independence, and sovereignty.

In addition, continued Dida, the restructuring has also pushed the company's operations to be more integrated into all business lines from upstream to downstream, making it more effective and efficient. This is evidenced by the efficiency achievements that have been recorded by the company, such as the ability to perform cost optimization and reduce inventory costs, both in terms of value and volume.

"All subsidiaries within the Pertamina Group increase synergies in business and operational integration, so they can optimize existing resources and provide greater benefits", concluded Fajriy.