Jakarta earns US$12.18 million from Seribu Island
Wednesday, May 24 2000 - 04:00 AM WIB
The Jakarta administration earns about US$12.18 million (US$1 = Rp 8,500) from oil and gas production off Seribu islands in the northern part of the capital, The Jakarta Post reported quoting the head of the local mining office Ali Rozi as saying.
Ali Rozi told a hearing with the Commission C of the local legislative council that the earnings from the oil and gas production on the islands was used to finance the administration's budget, which reached about Rp 3.39 trillion in the current January-December budget.
"The oil and gas are produced by two foreign oil companies ARCO, and YPF Maxus at Pabelokan island that produced about 25,987 barrels of oil and 382,587 cubic meters of natural gas a day," he told the legislators.
He said that other mineral resources such as quartz sand are also found on the island but they have yet to be explored. "The quartz sand deposit on the island could reach 4.3 billion cubic meters," he added. (*)