Indonesia’s state-owned oil and gas firm PT Pertamina expects its net profit to rise by 12.79 percent to $3.44 billion
Indonesia’s state-owned oil and gas firm PT Pertamina expects its net profit to rise by 12.79 percent to $3.44 billion next year as the revenue from downstream and upstream business spheres pick up, a statement from the company said on Thursday.
Upstream business was expected to contribute more than 50 percent of the total business profits, boosted by a rise in production from existing fields and new fields obtained from merger or acquisition activities.
PT Pertamina expects to produce about 284,000 barrels of oil per day and 1,567 MMscfd (million standard cubic feet per day) gas or equivalent with 554,700 barrels of oil per day next year.
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