Benakat seeks to boost coal output despite weak market

IDX-listed PT Benakat Integra Tbk said that its coal mining subsidiary PT Astrindo Mahakarya Indonesia will increase production this year by 37.14 percent in a bid to obtain higher revenue, Kontan reported Friday.

Benakat Corporate Secretary Remanja Dyah Intansuri was quoted as saying that Astrindo aims to increase coal output this year to 96 million tons from 70 million tons reached last year.

The coal output will come from two Astrindo subsidiaries, namely PT Mitratama Perkasa and PT Nusa Tambang Pratama. Astrindo, which is also engaged in coal infrastructure, was acquired in 2013.

Elsewhere, Ramanja said that Benakat through subsidiary PT Benakat Oil Group is also seeking for higher crude oil production this year at 1,625 bpd. The company is currently conducting drilling and workover programs at the Benakat Barat field, a joint operation project between PT Benakat Berat Petroleum and PT Pertamina EP. (*)