Caltex's investment in RI<\/p>\n
JAKARTA (JP): PT Caltex Pacific Indonesia, a joint venture
\nbetween the United States energy companies Chevron and Texaco,
\nhas been investing an average of US$400 million per year in
\nIndonesia to support its oil and gas operations here.<\/p>\n
The senior vice president of PT Caltex, J. Gary Fitzgerald,
\nsaid on Monday in Rumbai, Pekanbaru, Riau, that the company had
\nused the money to upgrade machinery and equipment to introduce
\ngreater efficiency into its production and exploration programs.<\/p>\n
Antara quoted him as saying that the company had managed to
\nincrease the efficiency of its operations last year amid a slump
\nin oil prices.<\/p>\n
Production costs have decreased to $2.33 per barrel last year
\nfrom $3.27 per barrel in 1997 and $3.33 per barrel in 1996, he
\nsaid. (jsk)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/caltexs-investment-in-ri-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}