JAKARTA: PT Pertamina, a state oil and gas company in Indonesia, will boost investment to more than $US 4 billion in 2011 to realise its ambitious target of doubling production by 2015.
With the bigger spending, Pertamina expected to crank up production capacity to 1 million barrels of oil equivalent per day (BOEPD) in the next five years.
Pertamina spokesman said 76.4 percent of the planned investments would be channelled to the up-stream sector (including exploration of 76 wells and the drilling of 221 wells) while the remainder would be allocated to downstream operations.
As for geothermal energy, Pertamina would develop Hululaid field in Bengkulu, the Sungai Penuh field in South Sumatera, Ulubelu in Lampung, the Karaha and Kamojang fields in West Java and the Lahendong V and VI and Kotamobagu fields in North Sulawesi.
Source: Jakarta Post
