JAKARTA (Yosefardi) – State oil and gas firm PT Pertamina plans to seek loan of up to US$4.2 billion for funding its capital expenditure (capex) next year, Investor Daily reported this morning.

Pertamina allocates capex of US$6-7 billion for 2016. It plans to invite partners for working in some projects such as oil refinery construction in some regions (Tuban, Cilacap, Balikpapan, Pekalongan, Dumai).

As at November 2015, Pertmina’s Ebitda margin was 11%. Then it expects to book net profit of US$1.5 billion this year.

Pertamina said the falling oil price affects its revenue drop for upstream business and Pertamina’s fuel products were going cheaper. Otherwise, the strong US dollar affects the higher import value for fuel by Pertamina.

Pertamina also targets its oil production to reach 600,000 barrels of oil equivalent per day (boepd) in 2016, a 10% growth compared to this year’s production. It allocates US$3.81 billion for boosting oil production next year. As at October 2015, Pertamina’s oil and gas production reached 585,000 boepd.