SSEK Assists Pertamina on Major Transaction

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SSEK Assists Pertamina on Major Transaction
25 July 2018

SSEK has assisted the Indonesian state-owned oil and natural gas corporation, Pertamina, in the transfer of 51% of Pertamina's shares in its direct subsidiary Pertagas to another Pertamina subsidiary, PT Perusahaan Gas Negara (PGN), in a transaction valued at US$1.2 billion, as has been reported.

With the transfer, PGN will become a subholding company under Pertamina, managing gas from midstream to distribution and marketing.

SSEK previously assisted the Indonesian Ministry of State-Owned Enterprises and Pertamina in the establishment of an Oil and Gas Holding State-Owned Company, which resulted in an additional US$2.7 billion in capital owned by the Government in Pertamina.

The SSEK team for both transactions was led by founding partner Ira A. Eddymurthy and partner Dewi Savitri Reni.

SSEK assisted in the drafting and signing of the Conditional Sale and Purchase Agreement (CSPA) between Pertamina and PGN on June 29, 2018. The signing took place at the Indonesian Ministry of State-Owned Enterprises and was witnessed by SOE Minister Rini Mariani Soemarno.

SSEK is a full-service corporate law firm with extensive experience advising on a wide range of projects in Indonesia, including successfully assisting on many government projects. SSEK is recognized by legal directories as a leading firm in Indonesia for M&A transactions. For more information, please contact us at

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