Sign up | Log in



Home  >>   Daily News  >>   Indonesia  News  >>   Energy  >>   Pertamina to boost output
NEWS UPDATES Asean Affairs        26 January 2011

Pertamina to boost output

Related Stories

January 17,2011
Nuclear energy for Malaysia

December 15, 2010
Malaysian utility confident in 2011

November 30,2010
Malaysia plans tax breaks for oil, new investments

November 25, 2010
Malaysia to become deepwater energy hub  

August 17, 2010
Nuclear plants are safe, says Malaysia scientist

State oil and energy company Pertamina plans to spend US$1 billion in 2011 on acquisitions of oil and gas blocks, as the country seeks to boost declining production.

Pertamina said on Tuesday that it aims to lift oil and gas output by up to 100,000 barrels per day of oil equivalent by 2015 through acquisitions, and is in talks with local producers, though would prefer to acquire overseas blocks and will focus on Africa, Libya and the Caspian Sea.

The company will issue bonds worth up to $2 billion in June to finance expenditure, and also plans to raise cash through selling a 20-30 percent stake in its majority-owned insurance firm Tugu Pratama in an IPO in the first half of 2011.

Pertamina's director of investment and risk management Ferederick Siahaan, said the company was looking to acquire blocks with oil output higher than 5,000 barrels per day, or gas output above 100 million standard cubic feet per day (mmscfd).

"We are now in talks with two local companies," said Siahaan at a conference in Jakarta, without giving further details.

Pertamina has said it expects crude and condensate production of 132,000 barrels per day for this year, up just 1 percent from last year, though the former OPEC member country has often missed production targets because of declining output at aging fields.

Pertamina said last month it had dropped its bid to buy a stake in Encore Energy, an indirect owner of a majority stake in Indonesian oil producer Medco Energi, which had been part of a plan to boost output through acquisitions.

Southeast Asia's largest economy imported 11 percent more crude last year than in 2009, and imports are seen rising over the next few years as the economy continues to grow.

The move to issue bonds comes amid strong demand in the past year for Indonesian debt, as the economy and companies showed resilience to the financial crisis and the country is seen winning further sovereign ratings upgrades.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Today's  Stories    26  January 2011 Subsribe Now !
• IMF raises growth forecast for Asean 5
Subcribe: Asean Affairs Global Magazine
• Indian billionaires lead expansion in Indonesia Asean Affairs Premium
• Pertamina to boost output
• CEOs in Asia Pacific confident of growth  
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• M&A activity seen in infrastructure, utilities
• Thai industry still in dark about AEC
• Lawsuit may block Thai 3G auction
• Thai business upset about street rallies
Asean Analysis    26 January 2011 Advertise Your Brand
• On the road diplomacy Sponsor Our Events
Asean Stock Watch    26 January 2011
• ASEAN to Continue Higher
Global News Impacting Asia    17 November 2010
• Bank of America sees Asian inflation
• Lloyd’s increases insurance push in Malaysia
• Wells Fargo analyst on euro
• Obama’s visit to Asia

ASEAN NEWS UPDATES      Updated: 04 January 2011

• Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

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.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2021 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand