Indonesian NOC Pertamina expects to complete the merger of its Pertagas and Perusahaan Gas Negara (PGN) subsidiaries within four months, The Jakarta Post reported on Tuesday.
The process is likely to involve asset transfers, with one option being for PGN to transfer its upstream subsidiary Saka Energi Indonesia to Pertamina and acquire Pertagas in return.
The aim is for PGN to become Pertamina’s holding company for midstream and downstream gas businesses.
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