Aceh eyes Rp 3.7 trillion oil and gas revenue in 2001
Tuesday, October 10 2000 - 06:30 AM WIB
The Aceh province would receive Rp 3.7 trillion (US$1=Rp 8,820) in oil and gas revenue from the central government in 2001 if the latter realized its plan to implement the Intergovernmental Fiscal Balance Law No. 25/1999 that year, a top official of the province said.
"The estimation is based on the assumed oil price of US$35 per barrel," deputy head of Aceh's planning office (Bappeda) Ridwan Husin was quoted by Serambi Indonesia as saying on Monday.
He said in April this year, Aceh's Bappeda estimated the oil and gas revenue to be received by the province from the central government at Rp 1.493 trillion based on the assumed oil price of $14 barrel.
However, he said, the oil price had soared to between $30 and $38 per barrel this month.
Aceh is rich with natural gas and home to the Arun liquefied natural gas (LNG) plant, which is the country's second largest LNG complex.
Under the Intergovernmental Fiscal Balance Law, which the government planned to implement next year, the regions will receive 80 percent of the government's revenue. (*)