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Pertamina Divests Hospitals, Hotels, Airlines, and Insurance to Sharpen Focus on Core Energy Business
Jakarta, Indonesia – State-owned oil and gas giant Pertamina is streamlining its business portfolio, releasing four non-oil and gas subsidiaries – hospitals, hotels, airlines, and insurance - to concentrate on its core oil and gas operations and teh progress of new energy initiatives. The move, announced by Pertamina officials, aims to improve efficiency and synergy within the state-owned enterprise ecosystem.
The divestments represent a strategic shift for Pertamina, allowing it to dedicate resources and expertise to its primary energy businesses amid a global energy transition. This restructuring impacts multiple sectors, with implications for healthcare, tourism, aviation, and financial services within Indonesia’s state-owned landscape. The changes are expected to be implemented progressively,with consolidation efforts underway and anticipated to conclude by january 1,2026,aligning with Pertamina’s target for a unified VAT,PIS,and KPI system.
Pertamina will transfer its hospital sector holdings, PT Pertamina Bina Medika Indonesia Healthcare Corporation (IHC), to danantara, with transaction stages currently in progress. In the hospitality sector, PT Patra Jasa, which manages nine hotel and resort properties, will be merged with PT Hotel Indonesia Natour (HIN), a part of the BUMN Tourism and Support (InJourney) holding. According to Agung, this consolidation will be guided by studies conducted by HIN.
The airline Pelita air Service (PAS) will be integrated into PT Garuda Indonesia (Persero) Tbk. Pertamina’s insurance businesses, PertaLife Insurance and Tugu Insurance, will be consolidated with Indonesia Financial Group (IFG), the state-owned holding company for insurance, guarantee, and investment sectors. Agung noted that this consolidation will extend beyond Pertamina, encompassing numerous insurance companies within the broader BUMN ecosystem.
These strategic moves are intended to strengthen Pertamina’s position in the evolving energy landscape and foster greater efficiency and collaboration across Indonesia’s state-owned enterprises.
