PHE budgets $1.5b for capex this year
Friday, January 17 2014 - 01:10 AM WIB
By Godang Sitompul
PT Pertamina Hulu Energi (PHE), a subsidiary of state owned oil and gas firm PT Pertamina, has budgeted around US$1.5 billion in capital expenditure for this year.
PHE?s Corporate Secretary Wahidin Nurliza said the funds would be used among others for the drilling of 43 exploration wells and 58 development wells.
?The drillings will be carried out in blocks where PHE serves as operator,? he said.
Editing by Johannes Simbolon