Indonesia:

IPO Planned for Indonesian State Energy Company (Live Trading News)

Shares in the drilling unit of Indonesian state energy company Pertamina are set to be sold to the public this year after the company’s request to list the company won approval from the State Enterprises Ministry.

While Pertamina last month announced it had won approval for the part privatization of three of its units, including Pertamina Drilling Services Indonesia, Friday’s announcement by a senior ministry official is the first time the government has declared its support for the move.

Pertamina has interests in 3 geothermal producing areas with 162 MWe installed capacity: Sibayak (2 MWe) located in North Sumatra, Kamojang (140 MWe) located in West Java and Lahendong (20 MWe) located in North Sulawesi.

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