TEMPO.CO, Jakarta – State-run oil and gas company PT Pertamina is targeting to produce 1.68 million bpd of oil in 2025. Coupled with the outputs of other contractors, the volume is expected to meet the national oil demand.
President director Dwi Sutjipto said the target will be met through the renovation of four refineries in Plaju, Balongan, Balikpapan, and Cilacap. Pertamina is working with three foreign oil companies to revamp its refineries, JX Nippon, China Petrochemical, and Saudi Aramco. The work is expected to begin in 2016.
To increase production, Dwi hopes the government will give Pertamina the opportunity to manage old wells that are off contracts such as the Mahakam Block. Mahakam block is currently managed by France-based Total E&P Indonesia, whose contract will end in 2017.
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