British firms to inject more cash into Indonesia oil, gas sector
Tuesday, November 6 2001 - 01:59 PM WIB
"Investment in the oil and gas field in this coming year will further increase because BP Plc will invest three billion dollars in the Tangguh gas field in Irian Jaya," Wilson said after meeting with Indonesian Vice President Hamzah Haz.
He said that Haz had also offered other investment opportunities in the agriculture and marine sectors.
Wilson said most British investment in Indonesia was in the oil and gas sector and he welcomed new oil and gas law passed by the Indonesian parliament last month, saying it allowed more investment in the sector.
"The new oil and gas law that was recently passed by the DPR (the lower house of parliament) will support increasing investment in the oil and gas sector in Indonesia," Wilson said.
Indonesia last month passed a new oil and gas law that ended the 30-year monopoly of the state oil and gas company Pertamina over contract and eventually opens up the domestic fuel market to foreign firms.
Commenting on possible security concerns in Indonesia, especially since Britain is playing a part in the United States-led attacks on Afghanistan, British Ambassador to Jakarta, Richard Gozney said there had been no such worries reported by British companies operating here.
"As far as ideas related to the security of British investors here, there has been no (complaints) conveyed to me," Gozney said in fluent Indonesian at the same occasion.
Wilson is currently visiting Indonesia, his first visit to the country, to identify new opportunities for British companies in the energy sector.
He is scheduled to meet with Indonesian Minister for Energy and Mineral Resources, Purnomo Yusgiantoro as well as several cabinet ministers and executives of Pertamina, the chairperson of the Indonesian Chamber of Commerce and Industry and leaders of the Indonesia and British business communities.(*)