State Enterprises Minister Mustafa Abubakar said that state-owned oil firm Pertamina was able to increase its oil and gas lifting from 182,000 barrels per day (bpd) to 200,000 bpd by maximizing its existing oil and gas fields.
"I hope that Pertamina would maximize the production of Cepu field which so far has not yet been fully exploited," the minister said here on Sunday.
The minister said he had asked the board of commissioners of Pertamina to make efforts so that Pertamina would be able to meet its production target.
He said that he had not yet received any report even if he had just had an audience with Pertamina commissioners. They had not yet talked about liquefied petroleum gas. They had talked about lifting.
Increasing gas lifting would depend on the operations of gas receiving terminals.
Pertamina and state-owned gas distributor firm PGN were asked to cooperate in managing the Arun gas stock tanks.
He did not provide details on funds needed for that purposes.
"What is certain is that a big fund would be needed. Pertamina has enough funds for the development of the upstream sector," the minister said.
Pertamina has allocated capital expenditure for 2010 amounting to Rp39 trillion, or a sharp increase of 56.4 percent from that in 2009 which stood at Rp22 trillion.
The increase in the capital expenditure is to support the increase in the number of new projects owned by Pertamina and the plan to develop new refinery plants.
Of the Rp39 trillion, 70 percent would be used for activities in the upstream sector, the remaining 30 percent would be allocated for down stream activities.
Mustafa said that in order to finance capital expenditure, the government was planning to issue bonds and ask for loans for working capital to boost oil production.
"So far, Pertamina`s oil lifting reached 182,000 bpd and is expected to increase to 200,000 bpd," the minister said.
"I hope that Pertamina would maximize the production of Cepu field which so far has not yet been fully exploited," the minister said here on Sunday.
The minister said he had asked the board of commissioners of Pertamina to make efforts so that Pertamina would be able to meet its production target.
He said that he had not yet received any report even if he had just had an audience with Pertamina commissioners. They had not yet talked about liquefied petroleum gas. They had talked about lifting.
Increasing gas lifting would depend on the operations of gas receiving terminals.
Pertamina and state-owned gas distributor firm PGN were asked to cooperate in managing the Arun gas stock tanks.
He did not provide details on funds needed for that purposes.
"What is certain is that a big fund would be needed. Pertamina has enough funds for the development of the upstream sector," the minister said.
Pertamina has allocated capital expenditure for 2010 amounting to Rp39 trillion, or a sharp increase of 56.4 percent from that in 2009 which stood at Rp22 trillion.
The increase in the capital expenditure is to support the increase in the number of new projects owned by Pertamina and the plan to develop new refinery plants.
Of the Rp39 trillion, 70 percent would be used for activities in the upstream sector, the remaining 30 percent would be allocated for down stream activities.
Mustafa said that in order to finance capital expenditure, the government was planning to issue bonds and ask for loans for working capital to boost oil production.
"So far, Pertamina`s oil lifting reached 182,000 bpd and is expected to increase to 200,000 bpd," the minister said.
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