TEMPO.CO, Jakarta - PT Pertamina has prepared a capital expenditure of US$5.3 billion in 2016 to boost its business in the downstream and upstream sectors, Pertamina Vice President for Corporate Communication Wianda Pusponegoro told Antara on Saturday, February 6, 2016.

Wianda explained that as much as US$4.7 billion would be allocated to develop company’s oil and gas fields, while the rest would be spent to develop the downstream industry.

“[The fund will also be used] to acquire foreign oil and gas fields,” Wianda revealed.

Wianda added the company would develop the downstream industry by increasing the capacity of its refineries, as well as building new gas pipes, transmission pipes and fuel pipes.

“We have numerous projects right now, but we’ll see about the fund capacity. But the amount of the capital expenditure is higher than that in 2015,” she said.

Wianda admitted that the capital expenditure would not be sufficient to expand the capacity of its refineries. Therefore, Wianda said that the company had options to gain new fund sources.

However, Wianda said that the amount of the capital expenditure was subjected to revision, as the government and Pertamina would discuss a revised work plan.

“We will look at if further, because we have to consider the condition in the field and the plummeting oil prices. We will wait whether we have to adjust the capital expenditure. But it won’t be increased, and the fixed capital expenditure will be announced after the revised work plan is approved,” Wianda said.



ANTARA