JAKARTA (Yosefardi) – State oil and gas company PT Pertamina allocates capital expenditure (capex) of US$6 billion for 2016, higher than 2015 capex of US$4.4 billion as the company has new projects both upstream and downstream.
Of total capex for 2016, upstream sector will get US$4.2 billion allocation, a 31% higher compared to US$3.2 billion this year.
While non upstream sector will get capex of US$1.8 billion, higher than US$1.2 billion this year.
Pertamin then targets to book net profit of US$1.5 billion next year, higher than US$1.2 billion expected for this year.