Word: pertamina
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...military commander who is most deeply involved in Indonesia's economics is Lieut. General Ibnu Sutowo. He bosses the state-owned oil company, Pertamina, which supervises operations of the 41 foreign oil companies that annually pump some 290 million barrels of petroleum from Indonesia's rich fields. Already Suharto's anticorruption commission has closeted itself for hours with Sutowo, digging into his use of Pertamina funds to expand his own influence and wealth. "I am convinced I have done nothing wrong," insisted General Sutowo in an interview with TIME Correspondent Louis Kraar. "Everybody is talking about corruption...
...readily admits, however, that he uses some $500,000 a year of Pertamina's funds in a one-man aid program. In recent ventures, Sutowo has donated television stations, mosques, airports, dormitories and hotels to army posts and towns throughout Indonesia...
Commuting from Singapore. All companies that enter the search pay heavily for the privilege. They must join a partnership with Pertamina, the government oil monopoly, which is run as an independent fiefdom by Lieut. General Ibnu Sutowo. The initial charge can run to as much as $7,000,000 in so-called signature fees-"just for a hunting license," as one oilman puts it. The companies take all the risks. If oil is found, Pertamina allows a foreign contractor to keep the first 40% to pay exploration and production expenses; the remaining oil is split, with the government monopoly taking...
Love and Oil. The single most spectacular success story is that of Lieut. General Ibnu Sutowo. He heads Pertamina, the government-owned oil monopoly, which is currently harvesting a fortune in fees from foreign firms for exploration of what may prove to be a huge reservoir of undersea oil off Indonesia's coastline. Pertamina goes its own way, and a very quiet way it is. It does not disclose figures on its operations but hands out lavish financial aid for army-encouraged projects. It also does very well by its own. On a salary of less than...
...addition to freewheeling Pertamina, the army is involved in virtually every part of Indonesia's economy-usually less out of greed than sheer need. Under President Suharto's austerity budget, armed forces units are required to provide between 25% and 40% of their own support. To raise funds, the army recently announced plans to commercialize engineering and transport-in effect, hiring itself out as an Indonesian version of Hertz Rent A Car. Some other examples of military business enterprise...