6 Giant Foreign Mines Now Returning to Indonesia

After 80 years since it was first discovered in 1941, the Rokan Block is now fully owned by Indonesia. The energy company from the United States (US), PT Chevron Pacific Indonesia, also handed over the working area (WK) to the holding of the State-Owned Enterprise (BUMN) PT Pertamina (Persero).

The transfer of management of the Rokan WK will be carried out starting August 9, 2021 at 01.00 WIB. At that time, the Minister of Energy and Mineral Resources (ESDM), Arifin Tasrif, said that this process was history for the upstream oil and gas industry in Indonesia.

The Rokan Block is not the only ESDM asset such as refineries or mines returning to Indonesia. Previously, there was also the Mahakam Block which was previously controlled by a French company, PT Total E&P Indonesia.

Then, of course, there is the Freeport gold mine, which is now majority controlled by the mining BUMN holding PT Indonesia Asahan Aluminum (Persero) or Inalum with 51.2%. Inalum is also the leader of an Indonesian mining holding consisting of PT Aneka Tambang Tbk (ANTM), PT Bukit Asam Tbk (PTBA), PT Freeport Indonesia, and PT Timah Tbk (TINS).

In spirit of the Independence month, https://bit.ly/2KJT23x also summarizes the ESDM assets that have been re-controlled by Indonesia. From Inalum to Rokan, here is a list of these assets: $IDXMESBUMN $BUMN $ANTM $INCO $MEDC https://bit.ly/3goIsM4