Harvest from Quickfire Investments

PERTAMINA's intention of becoming a world-class company by 2025 could flounder. A number of its overseas investments have not yielded the hoped-for results. In fact, investments in foreign oil fields were expected to boost Pertamina's production to 2.2 million barrels of oil equivalent per day (boepd) by 2025.

In 2025, Pertamina targets production capacity of 900,000 barrels from domestic fields and 600,000 barrels from its overseas expansion. "The rest will come from increases in participatory rights and elsewhere," Pertamina spokesman Ali Mundakir said last week.

September 16, 2014