GOVT OPTIMISTIC PERTAMINA TO ACHIEVE PROFIT-MAKING TARGET

Jakarta, Feb 19 (ANTARA) - The government is optimistic state-owned oil and gas company Pertamina will be able to meet its profit-making target of Rp25 trillion this year in view of current oil price developments, a spokesman said.

"The target is not a willful one but was calculated carefully. The figures are still rational," State Enterprises Minister Mustafa Abubakar said after installing seven new Pertamina directors here on Friday.

He said the target was set while the world's crude price had dropped. So with the development of current price now close to US$80 per barrel he said he believed the target would not be difficult to achieve.

"We will fight so that 'the rule of the game' in the ministries of finance and energy and mineral resources will be supportive for Pertamina to carry out its functions comfortably," he said.

He said the government would not determine the dividends from Pertamina to give an opportunity for it to carry out its projects in the upstream sector.

"We have not yet decided about the dividends. It would all depend upon the development this year. If it is conducive for investment we will ask for a relaxation so that the company could invest in the upstream sector in need of funds," he said.

Pertamina's president director Karen Agustiawan said the company's performance right now was improving moreover it is given more support from the government.

"If Pertamina is given facilities like Petronas it can be bigger than Petronas now," she said.