Firms sign Indonesian exploration contracts

Eric Watkins
Senior Correspondent

LOS ANGELES, Oct 10 -- Indonesia's upstream oil and gas regulatory agency, BP Migas, has signed exploration contracts with nine local companies.

The firms include PT Sumatera Persada Energi for West Kampar in Central Sumatra, PT Bunga Mas Energi (Bungamas in South Sumatra), Endeavour Energy Pty. Ltd. (Bengkulu), PT Bumi Parahyangan Ranhill Energia Citarum (Citarum in West Java), Star Energi Sentosa (Sebatik in East Kalimantan), Zraex NV (Lhokseumawe in Aceh), GreenStar Assets Ltd. (East Kangean in East Java), Perusda Benuo Taka (Wailawi in East Kalimantan), and Energy Equity Epic (Sengkang in South Sulawesi).

Novian M Thaib, director of exploration at the Ministry of Energy and Mineral Resources, said the contractors would have 30-year production licenses if they made commercial discoveries.

Energy and Mineral Resources Minister Minister Purnomo Yusgiantorothe expressed hope that Indonesia's crude oil production would reach 1.3 million b/d by 2008. The country's production recently has fallen to 940,000 b/d, according to non-Indonesian estimates.

Contact Eric Watkins at hippalus@spidernet.com.cy.

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