Thursday, February 22, 2024

Indonesia’s PT Pertamina Plans US$4 billion on Upgrades

PT Pertamina, Indonesia’s third-largest crude oil producer is looking to refurbish its fleet of vessels as well as upgrading its terminals. The upgrade is expected to amount to US$4 billion and will involve 23 ships including the expansion of its fleet. 

Pertamina’s Director of Business Planning, Wisnu Medan Santoso, said that the reconditioning of the vessels and fleets is to comply with the latest International Maritime Organisation standards, and at the same time is an effort to improve the services to other regional entities further.

Wisnu added that many oil and gas players in ASEAN do not have their own shipping arm, making it a good opportunity for PT Pertamina.

The Director of Business Planning at Pertamina has also said that the company is looking to diversify and is currently working to reduce its dependency on fuel cargo transportation.

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