Indonesia’s state-owned oil and gas company, Pertamina, is undertaking a major restructuring of its corporate structure. The company has announced plans to reduce its number of subsidiaries by 124 through a phased process. This streamlining will be achieved via three primary methods: liquidation, divestment, and mergers or spin-offs. The move aims to improve efficiency and optimize Pertamina’s business portfolio. Details regarding the specific subsidiaries affected and the timeline for these changes have not been fully disclosed. Pertamina officials state the restructuring is necessary to adapt to evolving market conditions and strengthen the company’s financial position. The changes are expected to be implemented over the coming months.