Government's oil reforms attract foreign investors
Government's oil reforms attract foreign investors
JAKARTA (JP): The government's recent moves to reform the
country's oil and gas policy is attracting foreign investors
looking for investment opportunities in the country, a seminar
organizer said on Tuesday.
Alan Solowiejczyk, chief executive officer of South East Asia
Conference and Exhibition Co (SEACE), said about 200 foreign
investors, including potential new investors, had confirmed their
participation in the Indonesian International Oil and Gas
Exhibition and Conference (IIOGE) '99.
Potential investors hoped the country's new oil and gas policy
would provide greater opportunities for them to invest in the
country in competition with investors who have long operated in
the country.
The exhibition and conference, which will be organized by
SEACE and PT Rantai Expo International and supported by the
Indonesian government, will be held from September 7 to September
10 in Nusa Dua Bali.
"The new investors come from among other places China and
Brazil," Solowiejczyk said.
Minister of Mines and Energy Kuntoro Mangkusubroto said on
Tuesday he fully supported the event and called on companies to
participate in the seminar.
"IIOGE '99 will provide a much needed forum in which
international public and private sector companies can meet to
discuss the reforms that are currently overtaking the Indonesian
energy industry.
"These reforms will affect all aspects of the industry and
will comprise the most extensive restructuring of state oil and
gas operations since the foundation of the Republic of
Indonesia," said Kuntoro, who will be a keynote speaker at the
seminar.
Other keynote speakers include Secretary-General of the
Organization of Petroleum Exporting Countries (OPEC) Rilwanu
Lukman and Pertamina's president Martiono Hadianto.
The organizing committee has invited several noted overseas
figures to speak at the forum, including Kuwait's Minister of Oil
Sheik Saud Nasser Al Sabah, Japan's Minister of International
Trade and Industry Kaoru Yosano and Minister of Land and
Resources of the People's Republic of China Zhou Yong Kang. (jsk)