TEMPO.CO, Jakarta - State-owned oil and gas firm PT Pertamina has decided to start the process of disbanding Petral Group. Pertamina president director Dwi Soetjipto said Petral's liquidation would be conducted after the results of an investigative audit into the latter is out in April 2016.
"Petral's role is no longer significant in Pertamina's business, which is why Pertamina has begun the process of Petral's discontinuation," said Dwi on Wednesday.
With this decision, Dwi said Pertamina would take over all of Petral's activities and assets as well as its subsidiaries, Pertamina Energy Services and Petral Zambesi.
"Petral's contracts will be an obligation between a third party and Pertamina," said Dwi, adding that Pertamina would also review those contracts.
State-owned Enterprises Minister Rine Soemarno asked Pertamina to report the investigative audit regularly. "If there is an indication of law violation, we will follow it through. We have to keep communicating," said Rini.