JAKARTA (Yosefardi) – State oil and gas firm PT Pertamina allocates Rp340.8 trillion or US$30 billion for investment in crude oil production until 2025.

Currently, Pertamina only produces 24% of total national crude oil production. The upstream oil and gas sector produces 584,000 barrel oil equivalent per day this year. Pertamina then plans to acquire oil and gas block in Algeria.

Pertamina booked net profit of US$1.39 billion in January-October 2015 period, with operating cost efficiency reaching US$1.28 billion.