Wed, 11 May 2011

From:

Indonesia promises incentives for investors in energy sector

JAKARTA, (Xinhua) Indonesian Energy and Mineral Resources Minister Darwin Zahedy Saleh has promised to consider providing fiscal incentives and more attractive production-sharing arrangements for potential investors in the energy sector, a media reported here on Monday.

The statement comes as the country seeks fresh investment in the sector to cater for a rapid expansion of domestic demand following the country's impressive economic growth in recent years.

"In a bid to encourage more investment, the government will consider providing incentives and more attractive conditions in production-sharing contracts," Darwin was quoted by the Jakarta Post as saying.

Indonesia's oil production may be below its target of 970,000 barrel per day this year.