Pertamina to Complete Streamlining of 31 Subsidiaries by First Half of 2026

State-owned energy company PT Pertamina (Persero) has completed the business streamlining of 31 entities in the first half of 2026. The programme is a key part of the company’s ongoing transformation, aligned with the aspirations of the government and the Danantara investment management agency, according to Pertamina’s Director of Transformation and Business Sustainability, Agung Wicaksono. The streamlining initiative is a strategic priority for Pertamina, with the ultimate goal of strengthening national energy resilience, improving public service, and delivering greater value to the national economy. The programme is designed to sharpen the focus on core business activities and build competitive advantage to create sustainable added value. Pertamina is also restructuring and simplifying its group structure through mergers, divestment of non-core businesses, and the liquidation of dormant entities, particularly in the upstream oil and gas sector. These actions aim to accelerate decision-making, enhance efficiency, and improve governance quality. Wicaksono noted that although the dormant upstream entities incurred no operational or board salary expenses, their liquidation was necessary to tidy up the Pertamina Group structure. He added that the subsidiary restructuring programme extends beyond corporate actions to include company-wide transformation to boost excellence, strengthen governance, and improve public service quality. Pertamina’s Vice President of Corporate Communication, Muhammad Baron, confirmed that every process and decision taken adheres to good governance principles. The company ensures comprehensive risk management and full compliance with prevailing laws and regulations. Pertamina is also coordinating with law enforcement agencies, auditors, Danantara, the State-Owned Enterprises Agency (BP BUMN), various external institutions, and internal stakeholders such as labour unions.