Energy World invests US$500 million in East Java oil, gas project
Wednesday, October 5 2011 - 01:22 AM WIB
Australia-based Energy World Ltd plans to invest US$500 million in oil and gas project in East Java. The company plans to develop an LNG processing facility and a 300 MW power plant in Lamongan Regency.
East Java Governor Soekarno welcomes the investment plan. ?This is an encouraging development for East Java, making the province as one of the prospective foreign investment destination. Hopefully, it could trigger the entry of other investors to East Java,? he said following a meeting with Energy World CEO Stewart Elliot on Tuesday in Surabaya.
He also said that the administration has allocated 100 ha of land in Lamongan for the planned development of the LNG facility project. (*)