BP to develop geothermal

British Petroleum stated its readiness to develop geothermal in Indonesia during a meeting of its President Director Bob Dudley and Indonesian President Susilo Bambang Yudhoyono (SBY), Koran Tempo reported on Monday.

?In our discussion just now, British Petroleum said it?s ready to develop geothermal in Indonesia. With their involvement then we?ll see our power generation capacity increasing,? President SBY said in Jakarta over the weekend.

He said that Indonesia?s geothermal potential was among the largest in the world, but only a small amount of it that had been tapped. It is because the geothermal development is more difficult and needs a big investment. And due to the subsidy provided for the oil-based fuel geothermal electricity price became uncompetitive, he added. (*)