Pertamina plans higher oil, gas output next year

By Godang Sitompul

State-owned oil and gas firm PT Pertamina plans higher oil and gas production of 930 mboepd next year, compared to the 693 mboepd estimate for this year.

The higher oil and gas output target next year comprises of oil output of 400 mbopd (compared to 334 mbopd for this year), and gas output of 3,069 mmfcd (compared to 2,080 mmfcd for this year).

Geothermal production next year is also targeted to sincrease to 4,350 GWH from 4,026 GWH estimated for this year.

The company also plans higher investment of US$3.32 billion next year, compared to the revised $2.74 billion allocated for this year.

Meidawati, Senior Vice President of Upstream Strategic Planning & Operation Evaluation at Pertamina told Petromindo.com that the targets have been decided by the company?s board of directors.

Editing by Reiner Simanjuntak