Pertamina's president director: Karen Agustiawan.
Pertamina aims for 8% rise in crude output
Indonesia’s Pertamina aims to increase oil production by up to 8% next year.
So far, average daily production stood at 181,000 barrels per day this year, higher than the target of 171,250 bpd, the Jakarta Post reported citing Pertamina’s president director Karen Agustiawan.
The increase is set to continue through 2010.
"The company can increase oil production by 7% to 8% next year," Karen said on the sidelines of a gathering to promote the roles of state companies in the country.
Work will be carried out to lift production at ExxonMobil-operated Cepu Block in Java Island to 20,000 bpd, she said.
Pertamina owns 45% of Cepu. The block now pumps out 6000 bpd.
Pertamina posted a net profit of 30.2 trillion rupiah, up 54.8% from last year.
Net profit is however, expected to fall to 12 trillion rupiah on the back of lower oil prices.