Indonesian oil company Pertamina says it'll borrow up to 40 percent if it has to, but it's moving foward with a $2 billion investment drive largely aimed at upstream development, with new projects and exploration aimed at being ready for the expected ramping up of supermajor activity in the country's underdeveloped oil patch.
The online Jakarta Post quotes a company director saying the big-money will mark a 25-percent spending spike over last year.
Pertamina intends to double mostly upstream spending to $4 billion by 2012, the Post reported.
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