TEMPO.CO, Jakarta - PT Pertamina Hulu Energi (PHE) has allocate Rp 6.7 trillion (US$507.7 million) in capital expenditure for this year.
PHE President Director Gunung Sardjono Hadi said that the capital expenditure allocation increased by 60.6 percent compared to that in 2016 in which the realization was at US$ 300,3 million.
According to him, the company is determined to boost its production this year; this investment is also expected to increase because there will be additional operations in its working areas.
"To boost production, we are determined to increase capital expenditure significantly in 2017,” he added.
The expenditure capital this year, he added, is prioritized to increase the production at Blok Offshore North West Java (ONWJ) and West Madura Offshore (WMO), both of which are the company’s subsidiaries.
ANTARA