Indonesia’s national oil and gas company Pertamina has formally acquired state-owned compatriot Perusahaan Gas Negara (PGN), parent of Saka Energi.
The government has completed the transfer of its 56.96% majority holding valued at almost $2.8 billion in PGN to Pertamina.
The move will further boost Pertamina’s domestic production, which is already up on the previous year. The increase is due in no small part to the company taking over operatorship of the Offshore Mahakam block in January.
