Release: The Indonesian Petroleum Association confirms the 2007 Board of Directors

At its 35th Annual General Meeting held on December 6, 2006 in Jakarta, the 42 Company Members of the Indonesian Petroleum Association (IPA) elected a new Board of Directors for 2007 that includes one new board member and two new officers. The 2004-2006 IPA President, Chris Newton, stepped down and Chris Prattini was elected as the President for 2007. The full board is listed below and includes representatives from four national and nine international oil and gas companies.

The IPA Board also unanimously appointed Bp. Suyitno Patmosukismo to continue as IPA Executive Director.

In addition to the election of the 2007 Board and Officers the AGM included presentation of annual reports from the Officers (on behalf of the Board) and by key Committee Chairman. Much of the material presented, including The Presidents Report is available on the IPA website at http://www.ipa.or.id

For logistical reasons the IPA did not hold its Annual Convention and Exhibition in 2006. Instead the very successful ?Jakarta 2006 International Geosciences Convention and Exhibition? was held in conjunction with SEG, HAGI, IATMI and IAGI.

In 2007, the IPA Convention and Exhibition will revert to an annual cycle on 14th - 16th May 2007 held at the Jakarta Convention Centre. The theme of the 2007 Convention and Exhibition is: ?Promoting Investment through Partnership?.

The new IPA board is looking forward to working with all stakeholders to tackle the challenges and capture the opportunities presented to restore the contribution of the oil and gas industry to the Indonesian economy and hence the welfare of the Indonesian people. The Board notes the progress made in 2006 in terms of recognition of and dialogue on investment environment issues and is optimistic in year 2007 if traction towards solution implementation can be maintained.

At the AGM, the Board and Company Members formally recognized the major contribution of the outgoing President, Chris Newton, in raising the profile of the IPA and working tirelessly towards the IPA?s long term objective of:

?Working collaboratively with all stakeholders to enhance investment in and hence the economic health of the petroleum Industry to deliver greater benefits to government, investors, communities, employees, customers and the environment.?

Chris Newton was elected as IPA President in mid 2004 and remains on the IPA Board in 2007.

Founded on March 24th 1971, the IPA is a non-profit organization that embraces both upstream (exploration and production) and downstream (refining, marketing and distribution) aspects of the oil and gas industry in Indonesia. The Association aims at creating an environment for its members to discuss common concerns, exchange ideas and works towards a common goal for the industry. The IPA also acts as a partner to relevant government institutions and provides the industry?s views on how to encourage a favorable environment for investment and competition.

Indonesian Petroleum Association
Elected Board of Directors for 2007 Posting

Officers

President: Chris Prattini (Chevron)
Vice President: Supramu Santoso (Star Energy)
Vice President: Roberto Lorato (Eni)
Secretary: William L. Bullock (ConocoPhillips)
Treasurer: Ron Aston (Premier)

Directors

Director: Anne Drinkwater (BP)
Director: Chris Newton (EMP)
Director: Peter Coleman (ExxonMobil)
Director: Colin Munro (Hess)
Director: Hirohisa Ota (Inpex)
Director: Rashid I. Mangunkusumo (Medco)
Director: Sukusen Soemarinda (Pertamina)
Director: Phillippe Armand (Total)

Bp. Suyitno Patmosukismo continues as the Executive Director of the IPA.

Jakarta, 3 January 2007
Indonesian Petroleum Association Communication Committee
Sonny Santosa Kosasih
Chairman