Purnomo says RI's political upheaval has no impact on oil and gas sector

Minister of Energy and Mineral Resources Purnomo Yusgiantoro said he doesn't expect the political upheaval swirling around President Abdurrahman Wahid to have much of an impact on foreign investment in the country's oil and gas sectors.

"These are long running projects and investments," Purnomo was quoted by Dow Jones Newswires as saying on Monday in Singapore. "These contracts are designed for 30 to 35 years...I don't see the (political) situation influencing investment to this area."

Purnomo declined to comment further on Parliament's moves to launch formal impeachment proceedings against Wahid. (*)