Pertamina Plans US$1 Billion Over Coming Years for Development of East Java Concession

摘要

Eertamina plans to spend US$1 billion over the next five years to finance development of the West Madura Offshore block in East Java, Upstream reported April 26. The company is still awaiting approval by the Indonesian government, granting the rights to develop the blocks reserves to the company. The company would use the funds to ramp up the block's oil and gas production, drilling 86 new development wells, exploration probes, workover wells and development holes, Pertamina spokesperson Mochmamad Harus said in a report by The Jakarta Post.