JAKARTA: PT Pertamina (Persero) is ready to spend the investment of up to Rp359 trillion (about U.S. $ 42 billion) by 2015, of which 85% is projected investment for the development of the upstream sector.
VP Corporate Communication Mochamad Harun Pertamina said it was in accordance with the vision of the company to be aggressive in the upstream and running a profitable business in the downstream. Such investment is also contained in the Company's Long Term Plan 2011-2015.
"In the upstream we will continue to develop the fields, mergers and acquisitions. In the downstream we will optimize the refinery and the expansion of business with value-added products better, and expand our markets such as aviation and lubricants, we hope it can improve our margins, "he said last week.
Focus on upstream operations also include the domestic front, the aggressive global expansion and selective as well as building internal capabilities with strategic alliances. Pertamina is targeting the oil and gas production increased by an average 13.3% from 2011-2015. The oil and gas production target in 2015 amounting to 776 million barrels of oil equivalent per day and reserve reached 2.22 billion barrels of oil equivalent. While downstream, the company targets to increase sales volume by 5.4% in the next 5 years.
Details of investments over the next 5 years that is Rp37, 1 trillion in 2011, Rp83, 9 trillion in 2012, Rp77, 9 trillion in 2013, Rp71, 6 trillion in 2014 and Rp88, 1 trillion in 2015. In 2015, Pertamina is targeting revenue of Rp709 trillion to Rp96 trillion EBITDA and net profit of Rp34 trillion. But by doing strategic initiatives, net earnings in 2015 could be encouraged to Rp54, 2 trillion.
Meanwhile TPPI related debt, Aaron said there still needs to be related to the finalization of the Master of Restructuring Agreement (MRA). According to him, there are still some differences related to it, not only between TPPI with Pertamina, but also TPPI with other parties.
"His partner TPPI there are 3, PPA, Pertamina and BP Migas, everything there is a difference. Hence the need for additional time until August 26, it's our last chance to give TPPI. But the point is there i'tikad good that they are willing to pay, "he said.
In addition, the associated prices of LPG and mogas also still no difference. Pertamina LPG CP Aramco asking price minus U.S. $ 40 while they ask for CP Aramco plus U.S. $ 140.
"This needs to mediate so that we ask BPKP to review, so there are fair numbers. In this restructuring we would not be harmed. We want the price of LPG and mogas according to the price the market price alone, "he said.
Met at a separate occasion, Director General of Oil and Gas Ministry of Energy and Mineral Resources Evita Legowo said the government supports Pertamina signed a farm in (the transfer of its rights of participation) to the Mahakam gas block dioperatori by Total E & P Indonesie before 2017.
"We like that the government wants (farm in). I've started to talk informally to the total, we have started to facilitate if possible Pertamina signed before 2017, "he said.
That meant that Pertamina could be more familiar with the block before it really wanted to be the operator and holds the rights to post-majority participation PSC ends on December 31, 2017.
"Farm in need of guns now, but in 2015 for example. That, too, do not be too big , an important opportunity for the Mahakam Pertamina to know better before 2017, "he said. (*)
VP Corporate Communication Mochamad Harun Pertamina said it was in accordance with the vision of the company to be aggressive in the upstream and running a profitable business in the downstream. Such investment is also contained in the Company's Long Term Plan 2011-2015.
"In the upstream we will continue to develop the fields, mergers and acquisitions. In the downstream we will optimize the refinery and the expansion of business with value-added products better, and expand our markets such as aviation and lubricants, we hope it can improve our margins, "he said last week.
Focus on upstream operations also include the domestic front, the aggressive global expansion and selective as well as building internal capabilities with strategic alliances. Pertamina is targeting the oil and gas production increased by an average 13.3% from 2011-2015. The oil and gas production target in 2015 amounting to 776 million barrels of oil equivalent per day and reserve reached 2.22 billion barrels of oil equivalent. While downstream, the company targets to increase sales volume by 5.4% in the next 5 years.
Details of investments over the next 5 years that is Rp37, 1 trillion in 2011, Rp83, 9 trillion in 2012, Rp77, 9 trillion in 2013, Rp71, 6 trillion in 2014 and Rp88, 1 trillion in 2015. In 2015, Pertamina is targeting revenue of Rp709 trillion to Rp96 trillion EBITDA and net profit of Rp34 trillion. But by doing strategic initiatives, net earnings in 2015 could be encouraged to Rp54, 2 trillion.
Meanwhile TPPI related debt, Aaron said there still needs to be related to the finalization of the Master of Restructuring Agreement (MRA). According to him, there are still some differences related to it, not only between TPPI with Pertamina, but also TPPI with other parties.
"His partner TPPI there are 3, PPA, Pertamina and BP Migas, everything there is a difference. Hence the need for additional time until August 26, it's our last chance to give TPPI. But the point is there i'tikad good that they are willing to pay, "he said.
In addition, the associated prices of LPG and mogas also still no difference. Pertamina LPG CP Aramco asking price minus U.S. $ 40 while they ask for CP Aramco plus U.S. $ 140.
"This needs to mediate so that we ask BPKP to review, so there are fair numbers. In this restructuring we would not be harmed. We want the price of LPG and mogas according to the price the market price alone, "he said.
Met at a separate occasion, Director General of Oil and Gas Ministry of Energy and Mineral Resources Evita Legowo said the government supports Pertamina signed a farm in (the transfer of its rights of participation) to the Mahakam gas block dioperatori by Total E & P Indonesie before 2017.
"We like that the government wants (farm in). I've started to talk informally to the total, we have started to facilitate if possible Pertamina signed before 2017, "he said.
That meant that Pertamina could be more familiar with the block before it really wanted to be the operator and holds the rights to post-majority participation PSC ends on December 31, 2017.
"Farm in need of guns now, but in 2015 for example. That, too, do not be too big , an important opportunity for the Mahakam Pertamina to know better before 2017, "he said. (*)
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