PGE to spend $324m in 2014
Thursday, January 23 2014 - 04:37 AM WIB
By Febry Silaban
PT Pertamina Geothermal Energy (PGE), a wholly owned subsidiary of state-owned oil and gas firm PT Pertamina, will spend up to US$324 million in capital expenditure for this year.
PGE?s Public Relations Manager, Hendi Suhendi said most of the investment will be allocated to finance the drilling of 18 exploration wells.
He explained that the 18 wells consist of seven wells in UBL (Ulubelu, Lampung), two wells in LMB (Lumut Balai, South Sumatra), two wells in KRH (Karaha, West Java), one well in KMJ (Kamojang, West Java), five wells in LHD (Lahendong, North Sulawesi), and one well in SPN (Sungai Penuh, Jambi).
Editing by Johannes Simbolon