Pertamina?s 2003 net profit estimated at Rp4.5 trillion

State oil and gas firm Pertamina estimates to book net profit of Rp4.5 trillion (US=Rp8,500) this year, company president director Ariffi Nawawi said Wednesday.

The Rp4.5 trillion is part of the estimated total profit of Rp10.1 trillion gained by the company in 2003. The remaining Rp5.6 trillion goes to the government?s coffer, Ariffi told reporters in a news conference.

Pertamina?s oil output of this year is estimated at 119 thousand barrels per day (MBOPD) and its gas production is expected to reach 914 million cubic feet per day (MMCFD). Meanwhile, geothermal steam production is expected to reach 28,000 tons per day this year.

The company?s overall output of oil, gas and geothermal is estimated at 285 million barrels of oil equivalent per day (MBOEPD) in 2003, up from last year?s 267 MBOEPD from last year, Ariffi said.

Oil, gas and geothermal energy production cost rose this year to $2.65 per barrel of oil equivalent (BOE) from last year?s $2.26 per BOE.

Meanwhile, Pertamina, which operates nine refineries, processed an estimated 985.6 thousand barrels of crude per day (MBCD) in 2003, up from the 963.5 MBCD target, while its liquefied petroleum gas (LPG) production is expected to reach 804.5 kilo tons in 2003 or about 102 percent from target. (godang)