Pertamina?s investment program 68% realized

State and oil gas Pertamina?s investment program for 2001 has been 68 percent completed, according to the company?s director for production sharing management Effendi Situmorang.

The investment included for both downstream and upstream activities, he said but he did not provide any figures.

This year, Pertamina allocates about US$4.8 billion for new investment. During the first quarter, about 17.29 percent of the total investment plan had been realized.

Effendi said that the larger funds of the investment funds had been used for oil and gas exploration activities. He added that Pertamina would use the remaining funds to drill new oil and gas wells.

?We would use the momentum to drill new oil wells,? he said. (*)