The History of Pertamina

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.
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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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