Britain to help develop Indonesia's oil sector<\/p>\n
JAKARTA (JP): The British government agreed on Thursday to
\nhelp develop Indonesia's oil and gas sector by encouraging
\ninvestment and the transfer of know-how from its own industry.<\/p>\n
A joint declaration issued by British Minister of Trade
\nRichard Caborn and Indonesia's Minister of Energy and Mineral
\nResources Purnomo Yusgiantoro on Thursday outlines three measures
\nto promote cooperation in the oil and gas sector.<\/p>\n
The two ministers agreed to encourage and facilitate British
\ninvestment in Indonesian oil and gas projects, according to the
\ndeclaration, which was signed at the end of Caborn's three-day
\nvisit.<\/p>\n
They also agreed to facilitate collaboration between Indonesia
\nand British small and medium-scale enterprises in the oil and gas
\nsector and to seek ways to enhance performance in the Indonesian
\noil and gas sector.<\/p>\n
Purnomo announced after the signing ceremony that Indonesia
\nand Britain could establish many joint cooperation programs.<\/p>\n
He said British technology and know-how in exploring and
\nexploiting oil and gas from the deep waters of the North Sea was
\nsomething that Indonesia could learn and adopt.<\/p>\n
\"British companies are among the world's leaders in the oil
\nand gas industry. We want to invite them here,\" he said.<\/p>\n
\"The most important thing from the declaration is that we are
\npromoting foreign direct investment here,\" he said.<\/p>\n
Purnomo said Indonesia could also learn from the way Britain
\nhad helped small and medium-scale enterprises participate in the
\noil and gas industry.<\/p>\n
Caborn refrained from stating a specific amount in British
\ninvestment that would result from the declaration, saying that
\nhis government's main concern was to create the necessary
\nconditions to promote the exploration of oil and gas in
\nIndonesia.<\/p>\n
But the British Embassy in Jakarta said there was potential
\nfor substantial additional British investment in the oil and gas
\nsector in Indonesia.<\/p>\n
\"This is likely to materialize once new legislation is passed,
\nclarifying the future operating environment investment,\" it said.<\/p>\n
Earlier, Caborn and Purnomo jointly opened the inaugural
\nmeeting of the Indonesian British Oil and Gas Working Group at
\nKempinski Hotel.<\/p>\n
Representatives from Indonesia included government officials
\nas well as state companies Pertamina (oil and gas) and Perusahaan
\nGas Negara gas distributor, and private companies like Medco and
\nKondur Petroleum. Representatives from Britain included
\nexecutives from oil companies such as Beyond Petroleum, Shell and
\nPremier Oil and supply service companies such as Amec and Foster
\nWheeler. (02)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/britain-to-help-develop-indonesias-oil-sector-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}