State oil and gas firm Pertamina allocate investment funds of US$2.73 billion in 2019, to develop several projects across the archipelago. The amount smaller than 2018 which amounted to US$2.9 billion.
Dharmawan Samsu, upstream director of Pertamina, said the funds will be distributed to work on several projects in Kalimantan such as Mahakam, Sanga-Sanga, Simenggaris, Nunukan, East Kalimantan and Attaka block, as well as asset five areas operated by PT Pertamina EP.
In details, the investment of PT Pertamina EP Cepu amounted to US$310 million for the Tiung Biru Jambaran project, PT Pertamina Hulu Energi for US$448 million to drill 45 wells and 13 exploration wells, and the Mahakam Block is US$1.8 billion for drilling 108 wells. While for upstream oil and gas invested US$2.3 billion, and the remaining US$153 million for geothermal energy.
