Indonesia’s state energy company Pertamina is targeting oil and gas lifting in 2023 of around 900,000 barrels of oil equivalent per day (boepd), up 5% from the previous year, chief executive Nicke Widyawati told a parliamentary hearing on Tuesday.

Pertamina’s upstream unit, Pertamina Hulu Energi, is planning to spend $5.7 billion in capital expenditure this year to help increase its production, chief executive Wiko Migantoro said at the same hearing.

The spending would be set aside for over 900 production wells and for 32 exploration wells, among others, he said.
Source: Reuters (Reporting by Fransiska Nangoy Editing by Ed Davies)