East Kalimantan receives oil, gas revenue share

The oil and gas-rich East Kalimantan province has just received around Rp 850 billion (US$1=Rp 11,400) in oil and gas revenue share from the central government, the local Kaltim Post daily reported Tuesday.

The paper quoted provincial treasurer Abdurrachim Asmaran as saying that this was part of the total oil and gas revenue share to be received by the province in 2001, estimated at more than Rp 6 trillion.

He said that the Kutai Kertanegara regency received the largest portion of the revenue share.

Abdurrachim said that the oil and gas revenue contributed around 90 percent to the provincial administration budget.

Under the country?s new autonomy law, oil and gas-producing provinces receive 15 percent of the government revenue share from oil operation, and 35 percent of the revenue share from gas operation.

The government share from oil operation is 85 percent, and 65 percent from gas operation. The rest goes to the oil and gas contractors.(*)