Pertamina EP sets expenditures US$3.12 bln for 2012
Thursday, February 9 2012 - 06:52 AM WIB
PT Pertamina EP, a subsidiary of state oil and gas company PT Pertamina, sets its year 2012 total expenditures, for both capital and operating expenditures, at US$3.12 billion.
The spending will be allocated for explorations, exploitations, production activities and general administration, Agus Amperianto, Manager for Public Relation of PT Petamina EP, told Petromindo.com.
He said the expenditures were set in the company?s Work Program & Budget (WP&B) for 2012 No.0831/BP0000/2011, dated December 20, 2011.
In 2012, Pertamina EP plans to allocate 10.9 percent of the total budget for exploration activities alone.
In the WP&B program, the company sets crude oil production at 134,515 bopd, gas production at 931,973 mmscfd, drilling of 25 exploration wells and of 113 development wells. The company is also planning to carry out 3D seismic on area of 2,278 square kilometers and 2D seismic covering 4,048 line kilometers.
Agus however did not provide details of realized programs of year 2011.
Editing by Roffie Kurniawan