Jakarta (IOGNews) - President Director of PT Pertamina, Mr. Ari Soemarno, stated that as new players entering the oil and gas sector, this state-owned oil and gas company might lose 40% of market share in retail sector due to the free market in oil and gas sector. Thus, Pertamina’s profit might decline by USD400 million.
In order to anticipate this competitive environment, Pertamina appointed a management consultant McKinsey Co. to strengthen the transformation process in facing the free market. McKinsey has been assigned to prepare strategy programs and implement the transformation. Mc Kinsey has started to work on Pertamina on July 31, 2006 for one-year contract. The value of the contract was USD14.9 million.
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