Jakarta, Indonesia-based Pertamina has recently set its 2010 capex budget on top of announcing a new credit facility.
The loan, worth US$275 million dollars, consists of a BRI loan facility for US$175 million and US$100 from Bank Madiri.
The borrowed funds will be used to fund working capital and capital expenditure projects, and for general corporate activities.
Recently, the State oil and gas company set its 2010 capital expenditure budget at Rp39 trillion (US$4.1 billion) and noted Rp34.7 trillion will be set aside for investment in the upstream sector.