A Review of the Nigerian Energy Industry

Pertamina names new chief

01 December 2014, News Wires – The Indonesian government has named cement industry veteran Dwi Soetjipto as the new chief executive of state-run oil and gas company Pertamina.

Dwi took over the role of Friday, replacing former chief Karen Agustiawan who stepped aside in October for personal reasons.

Dwi Soetjipto.Pertamina jpg
New boss: Dwi Soetjipto has been named the new chief of state-run Pertamina. Photo: Upstream

Dwi’s appointment comes as President Joko Widodo and Indonesia’s Corruption Eradication Commission look to clean up the country’s oil and gas sector which has previously been hit by graft scandals.

His first job in the new role will be to appoint new board members following the dismissal of the previous board by State Enterprises Minister Rini Soemarno.

“We want to speed up efforts to make Pertamina transparent – to make it into a world-class company – so today it was decided to dismiss all directors of Pertamina and appoint new directors,” Reuters quoted Soemarno telling reporters on Friday.

Following the news of his appointment, Dwi told reporters on Friday he welcomed investigations by Corruption Eradication Commission and other agencies targeting the company.

“We will immediately carry out the president’s direction to seriously clean up Pertamina,” he said.

“As long as we have integrity, we don’t need to be worried about (the investigations).”

Dwi’s appointment as the head of Pertamina is his first foray into oil and gas having spent his entire career in the cement industry and is currently the president director of cement company PT Semen Indonesia.

His appointment comes as Indonesia fights to reverse its declining oil production, with the former Opec member recently seeing output dip below 800,000 barrels per day – less than half its previous peak produciton.

“I understand how great people’s expectations are of Pertamina,” Dwi said.

“In a short time, we want to make Pertamina the spearhead of the vision and mission of the president of Indonesia to become an energy-sovereign state.”

– Upstream

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