CORRECTION: Korean, Saudi Arabian investors apply for oil refining projects in Indonesia

The ?S. African? in the previous story entitled ?Korean, S. African investors apply for oil refining projects in Indonesia? should read ?Saudi Arabian?.

Below is the complete corrected story:

Korean, Saudi Arabian investors apply for oil refining projects in Indonesia

A number of national and foreign investors have applied for licenses to do business in the country?s oil and gas downstream sector, a senior government official told Petromindo.com on Monday.

Kardaya Warnika, an expert advisor at the ministry of energy and mineral resources, said the investors included local investors PT IGAS and PT Energasindo; and Hi-Tech Corp from Saudi Arabia and investors from South Korea. But Kardaya did not mention the names of South Korean investors.

Kardaya said IGAS and Energasindo were interested in gas trading, while the foreign companies were planning to invest in oil refining projects.

The current oil and gas law, which became effective late last year, allows investors to do business in the oil and gas downstream sector, which had been monopolized by state oil and gas firm Pertamina for so many years. (godang)