Pertamina Completes Second Phase of Downstream Business Restructuring
Pertamina continues to strengthen the transformation of the Pertamina Group through the signing of the Merger Deed of PT Pertamina Energy Terminal (PET) into PT Pertamina Patra Niaga (PPN), acting as the Downstream Subholding and the surviving entity. The signing took place at the Pertamina Head Office in Jakarta, marking the completion of a significant stage in the implementation of the Second Phase of Downstream Business Restructuring.
The President Director of PT Pertamina (Persero), Simon Aloysius Mantiri, emphasised that this momentum is not merely about fulfilling legal requirements, but is a manifestation of the shared commitment of all Pertamina Group personnel to provide the best service to the Indonesian people.
“What we are signing today is a collective commitment to building a downstream business that is not only structurally integrated but also reliable, competitive, and equitable,” Simon stated in an official release on Tuesday (1/9/2026).
He emphasised that the benefits of this integration must be felt by all citizens, from Sabang to Merauke. Simon asserted that amidst the currents of transformation, downstream business operations must not falter, as providing energy services to the public remains Pertamina’s primary duty.
“In the midst of complex and demanding transformation currents, downstream business operations must not recede, even for a single second,” he stressed. Simon also reminded that energy service to the community remains the core mission and duty of all Pertiment officers.
Furthermore, Simon placed this merger within the framework of the Danantara mandate, which involves transforming into a State-Owned Enterprise (BUMN) that is adaptive, agile, and competitive. To this end, he requested all levels of management to maintain consistency in direction, strengthen governance and role clarity within the Downstream Subholding, and ensure a smooth transition without disrupting operations or energy services to the public.
“Continue to optimise the value chain, cost efficiency, and operational synergy, so that Pertamina truly becomes a focused, strong, and dignified energy company,” he asserted.
The merger of PET into PPN is a continuation of the First Phase of Downstream Business Restructuring, which became effective on 1 February 2026. This previous phase included the merger of PT Kilang Pertamina Internasional (KPI) and 10 special purpose vehicles (SPVs) of PT Pertamina International Shipping (PIS) into PPN, as well as the transfer of PIS’s captive vessel fleet to PPN.
Simon added that throughout the integration process, downstream business operations will continue at full capacity to meet the energy needs of the community. Following the effective date, Pertamina will focus its efforts on organising processes and structures within the Downstream Subholding, while continuing to optimise the value chain, operational expenditure (OPEX) optimisation, and operational synergy.
During the ceremony, two deed documents were signed: the Merger Deed by the President Director of PT Pertamina Patra Niaga (PPN) Mars Ega Legowo Putra and the President Director of PT Pertamina Energy Terminal (PET) Bayu Prostiyono, as well as the Deed of Amendment to the PPN Articles of Association by the President Director of PT Pertamina Patra Niaga Mars Ega Legowo Putra, in the presence of Notary Jose Dima. The merger becomes effective on 1 September 2026.
The event was also attended by the Board of Directors of the Holding, Subholdings, and relevant subsidiaries. Through sustainable downstream business transformation, Pertamina is committed to strengthening integration, efficiency, and the competitiveness of the national downstream business, while supporting the realisation of energy resilience and independence for Indonesia.