Pertamina 2015 investment totals $3.62b
Tuesday, February 23 2016 - 06:55 AM WIB
State-owned oil and gas firm PT Pertamina made significant investments totaling US$3.62 billion last year despite the oil drop.
Pertamina President Director Dwi Soetjipto told the House of Representatives Commission VI on state firms Monday that the hefty investment was in line with improving performance of the company?s upstream division where oil and gas production last year increased by 10.6 percent to 606,700 boepd from 548,500 boepd in the previous year.
He said that the higher oil and gas production was needed to meet growing domestic demand and reduce import.
In the non-upstream sector, Dwi said, Pertamina has developed new gas transmission pipelines with total length of 851 km.
Editing by Reiner Simanjuntak