Pertamina Allocates $6.77 Bln in 2013 to Boost Production (Indonesia)

PT Pertamina (Persero) will invest funds of USD $ 6, 77 billion by 2013 for the realization of major projects the company which is intended for the production improvement and retaining national energy infrastructure.

The value of such investments is included in the work plan and corporate budget 2013 is defined in the general meeting of shareholders held in Jakarta today.

The company’s investment activities will be focused on major projects which is a major supporter of the company’s growth towards World Class Energy Company. The upstream business gets the largest allocation of the US $ 3.1 billion or 46% of the total investment budget.

As for processing projects, allocated US $ 638 million and was followed by marketing and Commerce of US $ 546 million. Gas business, which is a source of new growth for Pertamina, gained significant investment allocation, amounting to US $ 437 million, while various other businesses worth a total of US $ 2 billion.

Some of the main project will be undertaken by Pertamina in 2013, such as I/E-project OR on a field that had been declared proven by additional production target of 110,000 bpd this year. The development of I/E-OR program is part of an aggressive effort to reach 200K production in 2014 or so-called Brigade 200K.

Overall, oil production next year is targeted for 244.000 bph. Prognosis the realization of this year’s oil production reached 203.000 bph or increased 5% compared to the realization in 2011. Targeted gas production reached 1 722 MMscfd, or increased from realization of 2012 of 1,568 MMscfd.

In the meantime, with the Brigade of 100 k, Pertamina will make improvements to the capacity of electricity from geothermal of 402 MW currently, be 1,092 MW in 2013. Pertamina expects an increase in the company’s geothermal production in 2013, i.e. be 2,897 GWh, or increased 42% compared with this year’s realization of prognosis of 2,122 GWh.

From downstream business, Pertamina targeting sales of Lubricants 680,000 kiloliters in 2013 or increased by 10% compared to sales prognosis in 2012 which reached 617.000 kiloliters. Pertamina lubricant until the end of this year has penetrated into the export market to 24 country of destination.

Aviation fuel sales of Pertamina is expected to penetrate the 4.2 million kiloliters or higher this year realization of prognosis of 3.9 million kiloliters, in line with the constantly increasing number of airline fleet in the country. Compared with a target of 2012 RKAP prognosis realization aviation fuel sales this year 11.4% higher

[mappress]
December 24, 2012