PT Pertamina’s President Director and CEO Karen Agustiawan. Image courtesy of PricewaterhouseCoopers/Youtube.

Indonesian state-owned oil and gas company Pertamina’s President Director and CEO Karen Agustiawan will step down from her position and take a teaching post at Harvard University.

Agustiawan’s resignation is effective October 1, 2014.

Details about Agustiawan’s post at Harvard have not been released yet.

Agustiawan’s successor has not been named.

Agustiawan tried to retire before but the Indonesian government rejected her request, the Jakarta Post said.

“We have received Karen’s resignation letter and we are going to guarantee her request,” State-Owned Minister for State-Owned Enterprises Dahlan Iskan said Monday.

Agustiawan, 55, has been the head of Pertamina for six years.

She was re-elected for a second five year term in March 2013.

Agustiawan has had a long career in oil and gas including positions at Halliburton Indonesia, Mobil Oil Indonesia and Mobil Oil in Dallas.

Before becoming CEO, Agustiawan served as Pertamina’s Upstream Director and as Expert Staff to the Upstream Director.

Pertamina is the second largest oil producer in Indonesia.

The company’s subsidiaries include domestic producer Pertamina EP and the local and international upstream arm Pertamina Hulu Energy.

Agustiawan graduated from Bandung Institute of Technology with a bachelor’s degree in engineering physics and was named one of Asia’s 50 most powerful businesswomen by Forbes Magazine in 2011.


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