Former President Director of Indonesia’s energy state-owned enterprise PT Pertamina, Karen Agustiawan.

JAKARTA (TheInsiderStories) — Former President Director of Indonesia’s energy state-owned enterprise PT Pertamina, Karen Agustiawan is being charged with 15 years prison by prosecutor, for an Australian block corruption. Agustiawan has benefited Australia’s Roc Oil Company Ltd. and cost Indonesia at Rp568 billion (US$39.44 million).

“Demand that the panel of judges state that the defendant has been proven legally and convincingly guilty of corruption,” said prosecutor in court.

Besides, Agustiawan is also charged with Rp284 billion fine which must be paid a month after judge’s decision. If not, prosecutor added, Agustiawan’s assets will be seized and auctioned. But if the amount is not enough covering the fine, it will be substituted with 5 years prison.

The prosecutor considered Agustiawan’s actions did not support government programs in combating corruption. She’s actions are considered hurting Pertamina’s corporate governance.

Agustiawan was charged neglecting the investment procedures in Pertamina and other investment provisions or guidelines in Australia’s Participating Interest or Basker Manta Gummy block in 2009. Agustiawan decided to make 10 percent interest investment in Basker Manta Gummy block, Australia, without discussion and assessment.

No due diligence nor risk analysis, she then signed the Sale Purchase Agreement (SPA). The agreement also didn’t received Pertamina’s Board of Commissioner and legal department’s approval.

Agustiawan is accused creating state lost when she held positions of Pertamina’s Director of Downstream in 2008-2009 and President Director in 2009-2014. The case also involved Pertamina Finance Director Ferederick ST Siahaan, Merger and Acquisition Manager Bayu Kristianto, also Legal Consul and Compliance Genades Panjaitan.

US$1 = Rp14,400

Written by Staff Editor, Email: theinsiderstories@gmail.com