JAKARTA (Yosefardi) – State oil and gas company PT Pertamina invests US$9 billion in 29 projects for upstream oil, gas, and geothermal, Investor Daily reported this morning.
Pertamina has so far realized US$3.52 billion investment. Banyu Urip and Jambaran-Tiung Biru projects need investment of more than US$1 billion.
Other 3 projects with investment of more than US$500 million each are Donggi Senoro, Matindok gas development, and WMO block development project.
Bisnis Indonesia reported Pertamina is eager to take over Mahakam block to boost oil and gas production to 2.2 million barrel oil equivalent per day (boepd) by 2025. Block Mahakam’s contract, currently operated by Total E&P, will expire in 2017.