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NEW UPDATES Asean Affairs  18 March 2014  



 
Pertamina allocates $3.7b for new production

State-owned oil and gas giant PT Pertamina has allocated a budget of US$3.75 billion to increase production of geothermal and oil and gas this year.

This is 24 percent higher than the $3.02 billion spent on realized investments last year, and accounts for 48 percent of total capital expenditure of $7.8 billion for this year.

Pertamina would be spending the $3.75 billion on more than 600 upstream projects, onshore and offshore, for geothermal and oil and gas both in Indonesia and overseas this year, said Pertamina spokesman Ali Mundakir in a press statement on Sunday.

The budget, he said, had yet to include acquisitions in the upstream sector to boost oil and gas reserves and production growth as stipulated in the company’s 2012-2016 plans.

The company expects to produce 280.2 million barrels of oil per day (mbopd) this year, consisting of 220.7 mbopd from existing working areas and 59.5 mbopd from areas made available through acquisitions. Meanwhile, gas production is targeted at 1,568 million standard cubic feet per day (mmscfd) and geothermal production at 3,036 gigawatt-hours (GWh).

Upstream projects that Pertamina will be working on this year include development of the Offshore North West Java (ONJW) block’s wells, which are expected to provide additional production of 5,300 bopd and 27 mmscfd of gas and simultaneous development of six fields in the West Madura Offshore (WMO) block. Pertamina EP, Pertamina’s upstream subsidiary, has drilled three wells in the Paku Gajah field, expecting to produce 45 mmscfd of gas by 2015. The development of the field has since 2010 resulted in 24 mmscfd of gas and 488 bopd.



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This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

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