PT Pertamina Hulu Energi (PHE), unit of state oil and gas firm Pertamina, allocates capital expenditure (capex) of US$537 million for 2018, 3% rise from this year’s capex. PHE targets to manage 5 blocks next year. That said blocks are Tuban block, Ogan Komering, Southeast Sumatera, North Sumatera Offshore, and Tengah block. PHE also targets to produce 71,522 barrels per day (bpd) next year, and 776 mmscfd of gas.
