Pertamina allocates US$6,77b as investment for 2013
Thursday, December 20 2012 - 10:19 AM WIB
The total investment is in line with Pertamina?s 2013 budget and work plan that was decided upon during its general shareholders? meeting on Thursday.
The projects to be implemented by Pertamina are those expected to boost its growth towards becoming a world class energy company.
Its upstream business will get the largest allocation at US$3,1 billion or 46 percent of the total planned investments. About US$638 million will be allocated for processing business, and followed by marketing and trading at US$546 million.
Of the upstream business, its new business of gas will get a significant allocation at US$437 million, while other businesses at a total of US$2 billion.
The main projects in 2013 will also include the enhanced oil recovery (EOR) in a number of proven fields with a target of increase at 110,000 barrels per day.
Next year, Pertamina has targeted to reach a total oil production rate of 244,000 barrels per day. This year its production rate will reach 203,000 barrels per day, an increase of 5 percent compared to that of last year.
Gas production rate is expected to reach 1,691 mmscfd next year, as compared to 1,568 mmscfd expected this year.
Pertamina will also increase its geothermal power plants? total capacity from the current 402 MW to 1,092 MW in 2013.
On downstream sector, Pertamina is targeting that its sales of lubricants will increase by 680,000 kiloliter or 10 percent in 2013 as compared to 617,000 kiloliter expected to be realized this year. Its total sales of oil fuels (BBM) are expected to reach 4,2 million kiloliter, which is higher than 3,9 million kiloliters expected this year.
Editing by Benget Besalicto Tnb.