REPUBLIKA.CO.ID, JAKARTA - State-owned oil and gas company, Pertamina, allocates 18 trillion IDR to acquire some blocks of oil reserve in 2013. The funds come from internal capital and bank financing.

"About 30 percent is from internal, the rest is loan," Director of Investment Planning and Risk Management at Pertamina, Afdhal Bahaudin, said on Sunday.

Pertamina targets to acquire five blocks next year. One of them belongs to a US company, Harvest, in Venezuela. The acquisition will be conducted after the approval from Ministry of State-owned Company. The acquisition is expected to boost the oil production up to 32,000 barrel per day.

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