Natuna partners to invest $1b

Natuna partners to invest $1b

SINGAPORE (Bloomberg): Contractors working in the Indonesia
gas fields in West Natuna plan to invest about US$1 billion in
the next three years to build facilities for the delivery of
natural gas to Singapore, the Business Times reported Saturday,
citing an Indonesian embassy bulletin.

The money will be used to develop gas facilities in the area,
for drilling, and the construction of a 640-kilometer gas
pipeline from the fields to Singapore.

The three production-sharing contractors involved in the
project are Conoco Inc. of the U.S., Premier Oil Natuna Sea, a
subsidiary of Britain's Premier Oil Plc, and Canada's Gulf
Resources.

Premier Oil, the UK's fifth largest oil exploration company,
has said it hopes its Indonesian gas ventures, as well as those
in Myanmar and Pakistan will help it guard against swings in oil
prices.