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Pertamina sees increased, Medco decreased portion in Corridor Block
PT Medco Energi Internasional (Medco) has reported a relatively stable oil and gas production of 157,000 barrels of oil equivalent per day (mboepd) in the first quarter of 2024 if compared with the performance of oil and gas operations throughout the fourth quarter of 2023. However, oil and gas production in the first quarter of 2024 was relatively lower or fell 7 mboepd below that in the first quarter of 2023.
Pertamina seeks collaboration with Brazil on bioethanol development
PT Pertamina New & Renewable Energy (PNRE), a subsidiary of State energy company PT Pertamina and member of the Task Force for the Acceleration of Sugar and Bioethanol Self-Sufficiency in Merauke, South Papua, is opening communication with Brazil for bioethanol development cooperation.
PGN explores construction of mini LNG plant for Meulaboh & Singkil gas
PT Perusahaan Gas Negara (PGN), together with Conrad Asia Energy Ltd (ASX:CRD), is exploring the possibility of constructing a mini LNG plant in connection with the effort to commercialize gas from the Meulaboh & Singkil Blocks, offshore Aceh.
IBC teams up with SOEs for renewable energy ecosystem development
In an effort to implement a new renewable energy ecosystem, Indonesia Battery Corporation (IBC) signed a Memorandum of Understanding (MoU) with seven State-Owned Enterprises (SOEs).
IHC, Singhealth seals deal collaboration to improve patient care
PT Pertamina Bina Medika, an Indonesia Healthcare Corporation (IHC) and holding of state-owned hospitals, signed a Memorandum of Understanding (MoU) with SingHealth, Singapore's largest public healthcare group, on cross-sharing of clinical practices, innovations, training to improve the quality of healthcare services.
PGN optimizes LNG to meet industrial energy needs
State-owned gas distribution company PT Perusahaan Gas Negara (PGN) is set to optimize liquefied natural gas (LNG) products to penetrate deeper into the market and meet industrial energy needs. This strategic move aims to ensure resilience amidst global geopolitical risks.
Hutama Karya uncovers PMN absorption, progress of projects
PT Hutama Karya (HK) reveals that they have absorbed 76 percent of the total State Capital Injection (PMN) amounting to Rp112.5 trillion (US$6.9 billion) injected from 2015 until 2023.
BPMA awaits proposal for Pertamina EP's oil asset return to Aceh
The Aceh Oil and Gas Management Agency (BPMA) is awaiting the proposal from Pertamina EP regarding the return of certain oil block assets to the Aceh Provincial Administration.
HK consortium to undertake Trans Papua Road Project
PT Hutama Karya (HK) has been named by the Ministry of Public Works and Housing (PUPR) as the winner of the bidding for the construction of the Trans Papua Road section from Jayapura to Wamena, specifically the Mamberamo-Elelim segment in Papua Mountains Province.
Erick prepares SOEs against impact of global economy, geopolitics
Minister of State-Owned Enterprises (SOEs) Erick Thohir has warned the Indonesian SOEs to anticipate the impact of global economic and geopolitical turmoil, citing the US inflation at 3.5 percent as indicator that the Fed would not lower the benchmark interest rate (Fed Fund Rate) in the near future.
Jokowi approves US$6 billion capital injection for WIKA
President Joko “Jokowi” Widodo has approved the additional state capital injection (PMN) to PT Wijaya Karya (WIKA) amounting to Rp6 trillion (US$419 million).
SMI books Rp2.07 trillion in net profit in 2023
State-owned infrastructure financing company PT Sarana Multi Infrastruktur (SMI) recorded a net profit of Rp2.07 trillion or equivalent to US$144.5 million throughout 2023, partly supported by growth in operating income.