JAKARTA – PT Rukun Raharja Tbk (RAJA), one of Indonesia's largest oil and gas companies by market capitalisation, has set aside USD 70 million in capital expenditure (capex) for 2025.

RAJA's President Director, Djauhar Maulidi, stated that the capex budget will accelerate the feasibility studies for the development of an LNG Terminal in Banten and an LNG Plant in North Kalimantan.

Djauhar aims for the feasibility studies of both projects to be completed in the first half of 2025. He explained that the results of the feasibility studies would form the basis for decision-making regarding the two projects in 2025-2026.

Additionally, Djauhar mentioned in an official statement on Saturday (8/3) that RAJA has also allocated the capital expenditure for a gas compressor project in South Sulawesi and the Tanjung Batu fuel pipeline in Samarinda.

RAJA is relying on its natural gas distribution business line in 2024, with this business line contributing approximately 55.63% of total revenue. The oil and gas lifting business contributed 22.43%, while other lines contributed 21.98%.

Throughout 2024, RAJA recorded revenue of USD 203.74 million, an increase of 24.90% year-on-year. However, its net profit performance declined by 0.23%, amounting to USD 25.55 million. (KR/ZH)