TEMPO.CO, Jakarta - State-Owned Enterprises Minister Rini Soemarno said that state oil and gas company would have difficulties to expand its business overseas if it was required to set up an oil and gas business entity. Rini pointed out that Pertamina must expand its business overseas because oil and gas reserves in Indonesia are depleting.
"If [Pertamina] is required to be a [business] entity, it won't be able to make investments overseas. Pertamina serves a function to provide energy," Rini said at her office in Jakarta on Tuesday, April 18, 2017.
Rini made the comment in response to a proposal made by the House of Representatives Commission VII overseeing energy affairs in relation to an establishment of an oil and gas business entity as a part of the revision to the Law on Oil and Gas.
Rini asserted that the government is aiming at realizing energy independence. Therefore, Pertamina was mandated to make investments overseas in a bid to acquire oil fields with huge reserves.
"It's because Indonesia's oil reserves are depleting," Rini explained.
According to Rini, Pertamina must secure energy supplies and realize the energy resilience, as well as release Indonesia from being dependent on foreign countries.
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