Tuesday, January 17, 2017

Indonesia: Pertamina to Boost Investment in Exploration

Pertamina allocates US$54 billion to strengthen upstream industry (Jakarta Post)

State-owned energy giant Pertamina has allocated US$54 billion in investment for the upstream industry between 2016 and 2025, aiming for a 185 percent increase in oil, gas and geothermal production.

In 2025, Pertamina aims to produce oil, gas and geothermal energy of around 1.91 million barrels of oil equivalents per day (boepd), a significant jump from 0.67 million boepd in November last year.