ChevronTexaco to invest $450 million in Indonesian projects in 2003
Thursday, August 22 2002 - 05:01 AM WIB
U.S. energy giant ChevronTexaco Corporation has planned to invest between US$400 million and $450 million in its Indonesian projects in 2003, a top executive of the company said in Jakarta on Thursday.
They included oil projects in Sumatra and the Darajat geothermal power project in West Java, said George L. Kirkland, vice president of ChevronTexaco Corporation.
ChevronTexaco?s unit Caltex Pacific Indonesia (CPI) operates several oil blocks in Sumatra.
ChevronTexaco, through its subsidiary PT Amoses Indonesia, will resume its Darajat geothermal power project in West Java. The project, which together with other 26 similar projects, was suspended in 1998 after severe economic crisis hit Indonesia.
Kirkland on Thursday met with Minister of Energy and Mineral Resources Purnomo Yusgiantoro. (godang)