PEP to spend $3.3b in 2014
Friday, January 10 2014 - 11:01 AM WIB
By Febry Silaban
PT Pertamina EP (PEP), a subsidiary of state-owned oil and gas firm PT Pertamina, said it will spend US$3.3 billion in capital expenditure (capex) and operational expenditure (opex) this year.
?The total amount of capex and opex approved by SKK Migas is $3.3 billion,? PEP ?s President Director, Adriansyah told Petromindo.com on Friday.
He added that most of the investment will be allocated to finance the drilling of exploration wells.
"We plan to drill 12 exploration wells in 2014,? he said.
Editing by Johannes Simbolon