Pertamina International Refinery Acquires 14 Percent Share Patra SK

Illustration: Photo: Doc. ANTARA

PT Kilang Pertamina Internasional (KPI) has officially acquired PT Patra SK shares of 14 percent of SK ENMOVE Co., LTD.

"With this share acquisition, Patra SK is currently owned by 3 business entities, namely KPI, Pertamina Patra Niaga and SK ENMOVE Co., LTD," said Acting Corporate Secretary of KPI Milla Suciyani in a statement to the media, Tuesday, August 19.

Milla explained that this acquisition was a strategic step by KPI to strengthen the business chain run by KPI. In addition to strengthening existing businesses through increasing the capacity of existing refineries, building new refineries, KPI also carries out acquisition strategies. This acquisition is a growth step taken by KPI.

This acquisition aims to create stronger integration in supply and production chains. KPI has had an important role in the provision of raw materials and supporting utilities for PT Patra SK, which is engaged in the production of basic materials used to make lubricants or Lube Base Oil. By entering KPI as the owner, of course, it will further strengthen the KPI's business portfolio," Milla explained.

Milla added that this acquisition is one of the strategic plans that have been prepared by KPI. Not only business transactions, this acquisition is also part of KPI's big strategy to maximize value and synergy in the refinery industry and support national energy independence.

With the entry of KPI as a shareholder, the collaboration in Patra SK is expected to strengthen Pertamina's overall position, both in terms of operations and finance. Milla added that the purchase of these shares also had a significant impact on KPI, as well as Pertamina.

One of them is the opening of opportunities to expand its market, not only domestically, even abroad.

"With this acquisition, KPI has the opportunity to explore, increase the value of the products we have and then jointly enter the market, both domestically and internationally," said Milla.

Previously, KPI and Patra SK had also collaborated in a number of technical fields. Among them are those related to increased reliability in refineries and catalyst optimization, to improve product quality with high quality.

Because of this, Milla is optimistic that this collaboration in the future will further strengthen the position of each company, especially with the support of technology from South Korea brought by SK ENMOVE Co., LTD.

"We hope that this collaboration will be able to provide maximum benefits for all parties, as well as strengthen the position of KPI as the leading energy company in Southeast Asia. We also hope that this collaboration can make a positive contribution to the Indonesian economy," concluded Milla.

Patra SK adalah perusahaan yang bergerak di industri minyak pelumas dasar (Lube Base Oil).

Perusahaan ini merupakan hasil kerja sama antara PT Pertamina Patra Niaga dan SK Enmove yang berasal dari Korea Selatan.

Berdiri sejak 2006, Patra SK memiliki pabrik produksi di Dumai, Provinsi Riau yang telah beroperasi sejak 2008.

Adapun produk pelumas yang dihasilkan Patra SK digunakan untuk mesin bensin dan diesel, turbin dan kompresor, oli bearing, fluida tractor dan pelumas industri lainnya.

Patra SK is a company engaged in the basic lubricant oil industry (Lube Base Oil).

This company is the result of a collaboration between PT Pertamina Patra Niaga and SK Enmove from South Korea.

Established since 2006, Patra SK has a production plant in Dumai, Riau Province which has been operating since 2008.

The lubricant products produced by Patra SK are used for gasoline and diesel engines, turbines and compressors, bearing oil, fluid tractors and other industrial lubricants.