The 2011 net profit forecast of Rp20.7 trillion represented 116.9 percent of the target of Rp17.7 trillion for that year, Pertamina President Director Karen Agustiawan said here on Monday following a general meeting of the company`s shareholders discussing its business plan for 2012.
"We will be more optimistic in 2012," she said.
Although Pertamina suffered losses Rp640 billion from the sale of subsidized fuel oils and Rp4.9 trillion from the sale of non-subsidized liquefied petroleum gas (LPG) this year the 2011 profit prognosis rose 23.4 percent compared to Rp16.78 trillion the year before, she said.
Pertamina has set the target of operating income for 2012 at Rp527 trillion, a 15.6 percent increase from Rp456.5 trillion in 2010, she said.
She further said the company`s oil and gas production in 2012 was projected to reach 532.7 thousand barrels consisting of 244 thousand barrels per day and gas production 1,672 million metric standard cubic feet per day (mmscfd).
The 2012 oil and gas production target represented a 14.5 percent increase compared to the target of 465.3 thousand barrels per day, an equivalent of 196.8 thousand barrels of oils per day. The figures accounted for 103 percent of oil production for 2010 or 107 percent increase compared with the gas production of 1,555 mmscfd for this year. (*)
Editor: Kunto Wibisono
Copyright © ANTARA 2011
