The latest petroleum news around the world, hot topics, new technologies, post or request oil jobs, post or request oil projects, oil field trading, oil equipment trading

Log In

Username

Password

Remember Me



Search Articles





Menu


Horizontal Menu


Indonesia seeking oil and gas investors

LOS ANGELES, Jan 19 -- The Indonesian government plans to change clauses in oil and gas contracts to attract investors to difficult areas of the country, such as eastern Indonesia.

LOS ANGELES, Jan 19 -- The Indonesian government plans to change clauses in oil and gas contracts to attract investors to difficult areas of the country, such as eastern Indonesia.

Kardaya Warnika, who heads the Implementing Body of Upstream Oil and Gas Activities, said the amendments involve granting greater shares of production to contractors.

He said no oil and gas contractors would invest in eastern Indonesia if they received the same production shares as those offered in western Indonesia.

Warnika also said the government would exempt oil and gas contractors wishing to invest in eastern Indonesia from drilling commitment fees and would reduce their exploration period from 6 months to 2-3 months.

The announcement coincided with the arrival of a delegation from the US-Indonesia Business Council, which said it hopes the government will improve the investment climate.

Robert W Haines, international relations manager at ExxonMobil Corp., who co-led the council's 5-day visit, said the government's plan to raise electricity tariff rates could attract additional investment as power prices become more viable.

"There are several US companies that have an interest in investing in the power sector in Indonesia," he said.

"Allowing the price of any commodity—whether it's electricity, gas, or oil—to come up to market prices will help in the investment decision," Haines said.

Contact Eric Watkins at hippalus@yahoo.com.
Contact LOGDIGI, LLC regarding to the detailed investment project
services@logdigi.com

Article Manager module by by George! Software.

Featured Business


Google Services

googlesvcs from Data Management & Warehousing, the Data Warehousing knowledgebase and consultancy

WWW   Site


Recently Added Documents

Name: DOSBox DOS Emulator
Updated: 06/30/2007 12:29 PM
Name: Free FTP Tools
Updated: 01/05/2007 09:37 AM
Name: Winning The Oil Endgame: Innovation for Profit, Jobs and Security
Updated: 12/28/2006 04:20 PM
Name: Global Climate Change
Updated: 12/28/2006 04:17 PM
Name: Avoiding Dangerous Climate Change
Updated: 12/28/2006 04:12 PM
Name: GetRight 6.1
Updated: 12/28/2006 03:35 PM
Name: Well Log History
Updated: 05/17/2006 01:50 PM

Podcasts