Indonesia’s Pertamina says oil, gas output climbs 7 pct in 2017
Indonesia’s state energy company Pertamina said in a statement its oil and gas production increased to 693,000 barrels of oil equivalent (boepd) in 2017 from 650,000 boepd in 2016.
Describing 2017 as “full of challenges” for Pertamina, the company’s acting chief executive Nicke Widyawati said in the statement that the increase was partly a result of output from the Banyu Urip project and overseas investments.
Pertamina’s audited 2017 revenue was reported at $42.69 billion, compared to $36.49 billion in 2016, the statement said.
Source: Reuters (Reporting by Bernadette Christina Munthe; Writing by Fergus Jensen; Editing by Tom Hogue)