Three U.S. oil firms set to invest US$7.5b in RI
Thursday, September 27 2001 - 02:07 AM WIB
Three U.S. oil and gas firms including ExxonMobil, Unocal, and Gulf plans to spend some US$7.5 billion in new investment in Indonesia until 2003, according to Minister of Energy and Mineral Resources Purnomo Yusgiantoro.
Purnomo was quoted by the Bisnis Indonesia daily as saying that the plans were expressed during the Houston energy conference this week which was opened by President Megawati Soekarnoputri.
Purnomo said that ExxonMobil would develop the Natuna gas field with investment of $3 billion, and the Cepu gas field with investment of $1.5 billion.
He said that Unocal would increase its oil production in the Makassar Straits to 150,000 bpd which would need around $2 billion in new investment.
Meanwhile, Gulf planned to invest $1 billion to develop gas pipeline from South Sumatra to Java.(*)