Indonesia’s state-owned oil and gas company PT Pertamina aims to expand its fuel retail presence to its Southeast Asian neighbors. According to Indonesia’s State-Owned Enterprise Minister, Rini Soemarno, Pertamina’s goal is to establish its fuel retail presence in at least one country by 2018.
Pertamina has already submitted a bid to establish a joint venture in Cambodia with Myanmar Petroleum Products Enterprise (MPPE). Pertamina’s investment in this joint venture could be worth USD 33 million, according to Ahmad Bambang, Pertamina’s marketing director. “It’s likely that we would win the tender,” Ahmad told Jakarta Globe.
Under the proposal, Pertamina and MPPE will establish a joint venture, which will operate 18 fuel depots and 12 fuel service stations, to sell co-branded petroleum products. If approved, it could open an opportunity for Pertamina to sell fuel to other independent fuel stations across Myanmar.
In Cambodia, Pertamina is considering an offer made by a local firm to sell fuel under the Pertamina brand and operate its own network of fuel stations.