Indonesia's state oil firm PT. Pertamina projected to produce 111,663 barrels per day (bpd) of oil in the second quarter of this year, higher than the first quarter of 101,963 bpd, president director of the company Ari Soemarno said here Monday.

The country imported 29,427,000 bpd of oil from January to April this year, said Soemarno while making a statement at a hearing with the parliament members.

Concerning the improvement of the company's performance and productivity, he said that the company needed about 18.7 billion U. S. dollars of investment.

Most of the investment would be used to build new refineries and maintain old plants, he added.

PT. Pertamina now operates seven oil refineries across the country.

Source: Xinhua