REPUBLIKA.CO.ID, JAKARTA - State owned oil and gas company, PT Pertamina targets net profit of 36 trillion IDR or 3.44 billion USD in 2014. Company's Spokesman, Ali Mundakir said that Pertamina targetted revenue of 79 billion USD or six percent increase compared to this year's.
"We estimate operating profit of 6.67 billion USD and net profit of 3.44 billion USD," Mundakir said recently.
This net profit target is driven by the production of 554,700 barrels equivalent of oil per day, consisted of 284 thousand barrels oil per day and 1,567 MMSCFD of gas.
Pertamina also increased its oil and gas production from several acquisitions and mergers with foreign oil and gas companies in 2014. Its geothermal business will also increase to 3,036 GWh. Upstream investment is expected to contribute more than 50 percent of total operation income.
From downstream investment, Mundakir said that company would increase its commercial gas business about 374 percent next year. Pertamina set capital expenditure worth 7.85 in 2014.
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