SOE Transformation: Pertamina Ranks First as the Largest Company in Fortune Indonesia 100

Jakarta, August 15, 2024 – PT Pertamina (Persero) transformation as a SOE has placed the company at the top of the Fortune Indonesia 100 list. Pertamina has been named the largest company of 2023.

The Minister of SOE, Erick Thohir, expressed his appreciation for SOEs’ performance. "Alhamdulillah, 19 SOEs have made it into the list of companies with the largest revenues according to Fortune Indonesia 100. It shows that SOEs play a crucial role as the locomotive driving Indonesia's economy," Minister Erick stated on social media. [15/8/2024]

Nicke Widyawati, the President Director of PT Pertamina (Persero), stated that Pertamina continues to record positive performance in line with the company's transformation program that has been ongoing since 2020.

"Pertamina strives to adaptively respond to the challenges of times and optimize future business opportunities," Nicke explained.

Nicke added that Pertamina's positive performance is supported by all of the company's business lines, including Sub-holdings and Subsidiaries. As a result, Pertamina achieved its best performance throughout 2023.

"Pertamina's positive performance is driven by digital transformation, technological research innovations, and more efficient company operations," Nicke elaborated.

Previously, Pertamina was recognized as the only Indonesian company capable of competing globally, ranking 165th on the 2024 Fortune 500 Global list. Pertamina has consistently remained among the global companies for ten years. Pertamina also ranked third in Southeast Asia's Fortune rankings in 2024.

Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social & Governance (ESG) implementation across all Pertamina's business lines and operations.**