ID :
57769
Mon, 04/27/2009 - 23:23
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https://www.oananews.org//node/57769
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INVESTMENT APPROVALS IN OIL, GAS SECTOR UP $2.2 BILLION
Medan, Indonesia, Apr 27 (ANTARA) - Investment approvals in Indonesia's oil and gas exploitation in 2009 rose US$2.2 billion to US$13.73 billion from a year earlier, suggesting that the country's oil and gas investment climate was quite conducive, an official said.
"The increase is fueled by rising field activities including operating expenses," the chief of public relations, security, formality and representative division at the Upstream Oil and Gas Executive Agency (BP Migas), Amir Hamzah said here on Monday.
The field activities rose as the number of oil and gas cooperation contracts (KKKS) approved to engage in oil and gas exploration and exploitation was on the increase, he said.
He said the number of KKKS increased by an average of 20 a year.
In 2008 alone, the number of KKKS increased 41, he said.
"The investment will be more favorable if the KKKS contractors use local contents," he said.
BP Migas itself had used local contents by among others putting its environment conservation funds in the national banking, he said.
"Because of the policy the KPK (Corruption Eradication Commission) has given awards to seven oil and gas contractors which put their US$70 million in funds in the national banking." he said.
BP Migas also had signed a memorandum of understanding (MoU) with the Office of the State Research and Technology Minister to benefit from techology invented by domestic universities, such as hydro dynamic machine, he said. ***
"The increase is fueled by rising field activities including operating expenses," the chief of public relations, security, formality and representative division at the Upstream Oil and Gas Executive Agency (BP Migas), Amir Hamzah said here on Monday.
The field activities rose as the number of oil and gas cooperation contracts (KKKS) approved to engage in oil and gas exploration and exploitation was on the increase, he said.
He said the number of KKKS increased by an average of 20 a year.
In 2008 alone, the number of KKKS increased 41, he said.
"The investment will be more favorable if the KKKS contractors use local contents," he said.
BP Migas itself had used local contents by among others putting its environment conservation funds in the national banking, he said.
"Because of the policy the KPK (Corruption Eradication Commission) has given awards to seven oil and gas contractors which put their US$70 million in funds in the national banking." he said.
BP Migas also had signed a memorandum of understanding (MoU) with the Office of the State Research and Technology Minister to benefit from techology invented by domestic universities, such as hydro dynamic machine, he said. ***
