Host of oil and gas projects aiming to boost Indonesia's national economy

Indonesian President Megawati Soekarnoputri has outlined plans for $2 billion of oil and gas projects aimed at boosting the national economy.

Sept. 19, 2003

2 min read

By OGJ editors
HOUSTON, Sept. 19 -- Indonesian President Megawati Soekarnoputri has outlined plans for $2 billion of oil and gas projects aimed at boosting the national economy and building foreign investors' confidence, the OPEC News Agency reported.

"I urge the public to take benefits from all these projects," Megawati said during a Sept. 15 ceremony to launch the projects at the Balongan refinery complex in Indramayu, West Java. She inaugurated four completed projects and launched another 10 projects.

The completed projects were the Limau Timur liquefied petroleum gas plant in South Sumatra; the Cemara LPG plant in Indramayu, West Java; a carbon dioxide removal project in Subang, West Java; and a Tunu field gas compression project in East Kalimantan.

The 10 projects, work on which is to commence soon, are located across Java, Kalimantan and Sumatra, and include the construction of two oil tankers capable of carrying 2 million bbl, and a fuel depot in Cikampek, West Java.

The majority of the projects, worth $940 million, belongs to Pertamina, the state-owned oil and gas company.

State-owned gas company PT Perusahaan Gas Negara (PGN) is to commence work on the $485 million pipeline that will carry gas from Pagar Dewa fields in South Sumatra to Cilegon, Banten, in West Java.