JAKARTA – PT Pertamina Geothermal Energy Tbk (PGEO), a subsidiary of Pertamina engaged in the geothermal energy industry, has announced plans to add a new business line: laboratory testing services.

According to a public disclosure, PGEO will offer laboratory analysis solutions to various geothermal developers.

“There are already potential buyers who have expressed interest in the company’s laboratory services,” PGEO stated in an official release quoted today (20/5).

This move is also seen as a method to optimise PGEO’s assets. The company will not need to allocate additional investment funds for the expansion of this business line, as it will use PGEO’s existing facilities.

The solutions to be offered in this laboratory testing service include geothermal sample collection and well data (wireline logging), as well as chemical analysis of geothermal fluid and solid samples.

PGEO does not stop there. In a separate disclosure, the company reveals the plan to sell its two-phase flow measurement equipment, Flow2Max, patented in six countries including New Zealand, Philippines, Iceland, Indonesia, Turkey, and the United States.

PGEO projects these two new segments to begin generating sales in 2026.

With the support of this new business line, PGEO projects a year-on-year revenue increase of 10.4% in 2026, followed by a further 5.4% rise in 2027.

“With this plan, the company’s revenue is projected to reach IDR 10,929.60 billion in 2029, with a compound annual growth rate (CAGR) of 12.7%,” PGEO explained.

Nevertheless, PGEO must still obtain shareholder approval for this business plan at the General Meeting of Shareholders (GMS) scheduled for 3 June 2025. (ZH)