PT Pertamina, Indonesia's state oil company, plans to sell as much as US$1.5 billion by the end of this year depending on market conditions.
The company hired Citigroup Inc., HSBC Holdings Plc and Credit Suisse Group AG to arrange the sale, which will help fund 46 trillion rupiah ($5 billion) of investment this year.
The company hired Citigroup Inc., HSBC Holdings Plc and Credit Suisse Group AG to arrange the sale, which will help fund 46 trillion rupiah ($5 billion) of investment this year.
Pertamina aims to boost oil and gas production. The company spending about $400 million to build two liquefied natural gas terminals in West Java and East Java and plans to increase output by 50,000 barrels of oil equivalent a day, or 12 percent, in 2010 from about 425,000 barrels in 2009.
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