Pertamina CEO, Nicke Widyawati, said in the hearing with parliament on Monday (June 29) that Pertamina this year spends around US$6.2 billion, to maintaining the upstream production. The CEO asserted, with the sales decline due to COVID-19 outbreak, Pertamina needs government support to pay their obligations with total amount of Rp96 trillion (US$6.76 billion). Government had promised to pay part of their duty of Rp45 trillion this year and the rest in the next two years.
Pertamina Needs $133 Billion Until 2026
State run oil and gas holding, PT Pertamina, needs funding of US$133 billion until 2026 to boost the production capacity, sourced from initial public offering (IPO), external funding, and project financing (US$49 billion).