Wednesday, 5 Dec 2012
Pertamina Prepare Capex (Capital Expenditure) worth U.S. $ 6.7 Billion

JAKARTA-In 2013, PT Pertamina (Persero) prepare investment expenditures (capital expenditure / capex) worth U.S. $ 6.7 billion or around Rp64 trillion. This value is increased by about 10% when compared with 2012 at around U.S. $ 5.8 billion. Director of Finance T Andri Hidayat said the value of the investment is mostly used for investment in the upstream sector. Later, one of the investment spending will be allocated to the acquisition of oil and gas fields, both at home and abroad. "Most of it is still the upstream sector, both for drilling, as well as increased production," said Andri, Tuesday (4/12). Now, for the allocation of acquisition spending in 2013 is no different from 2012 which reached Rp12 trillion. Meanwhile, for the financing, the company will rely on internal cash and external, such as loans. "Where there are now companies that no loans," he added. In 2012, Pertamina make an investment of U.S. $ 5.8 billion, with a composition of 80% for and 20% upstream to downstream.

Financing the investment itself was filled from internal funding by 20% and 80% external. Director of Pertamina Upstream M Husen said Pertamina in 2013 will be more aggressive to increase production through optimization of dewatering and production stage. The Company expects there will be an increase in production of about 5% next year compared with 2012. Husen estimated oil production targets could not be achieved this year. In 2012, oil production is expected to reach 200,000 barrels per day, slightly lower than the target of 215,000 barrels per day. Though ideally, oil production this year by about 215,000 barrels per day. "The position of our oil production is about 95% of the target. Formerly with projects that can be onstream should be increased, but it still can not. Until the end of the year will probably survive diangka tetep because there are projects that do not kekejar this year. "Said Husen.

Sources: http://epaper.bisnis.com