PGN Targets Revenue Increase of 20% in 2009

VIVAnews - State Gas Company (PGN/PGAS) is targeting that the company's revenues increase by 20 percent in 2009.

"Hopefully, it can still rise," said PGN President Director Hendi P. Santoso on Tuesday, Jan. 13.

According to Santoso, if gas sales volume in 2009 can reach 700 to 800 million standard cubic feet per day (mmscfd), the company's revenues can still grow by 20 percent.

He said that the targeted gas sales volume is only around 700 to 800 mmscfd, an increase compared to the target in 2008 reaching 700 mmscfd due to the economic crisis.

"It is estimated that there will still be growth. However, the economic impact will still be there," he said.

In addition, Santoso figured that PGN's financial report at the end of 2008 can only be released in late February 2009. The reason for this is that the company's financial balance will only be discussed on 15 February 2009.

Translated by: Bonardo Maulana Wahono