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As shareholders will have seen, Andalas has signed an important agreement with Pertamina to cooperate on the identification and development of Independent Power Projects in Sumatra, Indonesia. This arrangement provides Andalas with a unique opportunity to work with Pertamina in a way that should be beneficial to both parties as they jointly seek to further develop the gas to power business in South and Central Sumatra. The win-win nature of this arrangement should add value to Andalas shareholders, Pertamina and the people of Sumatra, many of whom will gain access to electricity for the first time.
Pertamina is Indonesia’s national oil company, the country’s largest oil and gas producer, and also ranks high in the Global Fortune 500 of companies. Its history stretches back over half a century and it now operates in all parts of the oil and gas value chain throughout Indonesia and, increasingly, internationally.
People working in our company, including myself, have worked with Pertamina over many years; we are very familiar with its operations, its people, and its significance within the country, especially as it pertains to the Andalas business strategy. Relationships between our directors and staff have been developed over many years of mutually successful engagements and have led to this unique agreement and the opportunity for Andalas to operate at a level that is usually the preserve of much larger companies.
I understand that this familiarity may not be as well founded across our shareholder and stakeholder base and there may be questions about the importance of Pertamina, so I have compiled some key facts, figures and information on this major industry player in a presentation which can be found here.