Investors in Indonesian oil sector unfazed by economic crisis

The economic crisis which started in 1997 has hardly affected investment in the oil industry, especially in the upstream sector of the industry, an official said.

Ridwan Nyak Baik, a spokesman of the state-owned oil and gas company Pertamina said investors in the upstream sector of oil industry had not indicated that they were less interested in doing business because of the crisis in the country.

"In most other sectors investors choose to wait and see until security is restored but it is not so in the oil explorations,' he said.

Most investors in the upstream sector of the oil industry look forward to earning profit after investing their money for 10 to 20 years, he added. (*)