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Indonesia's Pertamina expects investments to reach US$92 billion by 2024

Indonesia s Pertamina expects investments to reach US$92 billion by 2024
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Indonesia s Pertamina expects investments to reach US$92 billion by 2024
Indonesia s state oil company PT Pertamina expects to invest US$92 billion in the period from last year to 2024, its chief executive said on Thursday, as the country seeks to rely less on energy imports and rein in its current account deficit.
FILE PHOTO: An Aerial view of PT Pertamina refinery Plaju in Palembang, Indonesia, October 24, 2018. Antara Foto/Nova Wahyudi via REUTERS
20 May 2021 06:36PM
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JAKARTA: Indonesia s state oil company PT Pertamina expects to invest US$92 billion in the period from last year to 2024, its chief executive said on Thursday, as the country seeks to rely less on energy imports and rein in its current account deficit. ....

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Indonesia's Pertamina expects investments to reach $92 bln by 2024

By Reuters Staff
2 Min Read
JAKARTA, May 20 (Reuters) - Indonesia’s state oil company PT Pertamina expects to invest $92 billion in the period from last year to 2024, its chief executive said on Thursday, as the country seeks to rely less on energy imports and rein in its current account deficit.
The funds would come from the company, while $40 billion is expected to be raised externally, Nicke Widyawati told parliament.
“Developing the future of the business needs funds that are not small,” Nicke said, noting the externals funds could come from partnerships, loans or bonds.
The investments will be used for 14 “national strategic projects” and 300 other investments in oil and gas as well as renewable energy supply chains, Pertamina spokeswoman Fajriyah Usman said in a statement late on Wednesday. Some of the projects may be eligible for funding from the country’s new sovereign wealth fund, the Indonesian Investment Authority (INA), said Fajriyah, wh ....

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