Finance Director of Pertamina Arif Budiman, in year-end report on Wednesday expressed optimism the company would continue to grow.
"In 2014, out estimate puts the profit at US$2 billion and in 2015, it would grow 10-15 percent," Arif said.
The company is predicted to post a similar increase in income from US$70 billion in 2014, he said.
He said the management of the company already prepared a working plan and budget for 2015, but they still need reviewing.
A number of assumptions used are the same as in the 2014 budget such as oil price at US$105 per barrels and rupiah exchange rate at 11,900 per US dollar.
Oil prices have declined lately to below US$60 per barrels, therefore, the oil price target has to be revised.
Oil price is significantly determinant on the state income, he said, adding an increase or a decline of US$1 dollar in oil price would change the state income by hundreds of US dollars.
Pertamina, he said, hopes to wrapped up revision of its working plan in the third quarter of 2015 to coincide with the completion of revision of the 2015 state budget.
He said Pertamina sets aside around US$5 billion for capital expenditure in 2015, but with the oil price fall it is necessary to review the amount of the investment plan.
(Uu.H-ASG/B003)
Editor: Priyambodo RH
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