... Asia's energy champion in 2025 by recording revenues of Rp1,929 trillion (about US$200 billion)... "Jakarta (ANTARA News) - State-owned oil and gas firm PT Pertamina has set itself the target of being Asia's energy champion in 2025 by recording revenues of Rp1,929 trillion (about US$200 billion) and EBITDA (earnings before interest, tax, depreciation and amortization) of Rp385 trillion (about US$40 billion).
Pertamina SVP Gus Rizal said here on Wednesday Pertamina is expected to transform itself into a national energy enterprise by 2025.
"To achieve the goal, we have to increase our production to 2.2 million barrels per day. Our production currently reaches approximately 460 thousand barrels per day," he said.
"This target is three or four times as much as Pertamina`s current production. Therefore, we need to be more productive in both upstream and downstream sectors," he said at a seminar "Strengthening National Economy Through Indonesia Incorporated".
According to Rizal, to achieve the oil and gas production target of 2.2 million barrels per day, about 1.5 million barrels will be obtained from domestic sources and around 700,000 barrels from abroad.
"Therefore, much of our investment, or around 70-80 percent, is allocated to the upstream sector," he said.
He further said by carrying out the Energizing Asia program, Pertamina continues to develop oil and gas businesses, improve infrastructure particularly for its refineries and strengthen petrochemical business.
He added the firm expects to receive privileges from the government to extend its contracts in managing oil and gas blocks in the country.
"Pertamina must be the largest energy company at home, so that we expect the government to provide Pertamina with special privileges particularly in managing its oil and gas blocks," he said.
He also said Pertamina is eager to expand its business overseas, particularly in Iraq, Kazakhstan and Algeria.
(Y012/S012)
Editor: Ade P Marboen
Copyright © ANTARA 2012
