Oil firm bosses to meet in Bali

JAKARTA (JP): At least 250 executives of major foreign and local oil companies have confirmed their participation in an exhibition and conference on the international oil and gas industry to be held in Bali early next month, the organizing committee said here on Saturday.

Organizing committee Chairman Fernando H. Titaley said the secretary-general of the Organization of Petroleum Exporting Countries (OPEC), Rilwanu Lukman, had also confirmed his attendance at the conference, which would be held for four days starting on Sept. 7.

He said the Indonesian International Oil & Gas Exhibition (IIOGE) 1999 would mainly focus on the impact of Indonesia's new oil and gas law on the country's oil and gas industry.

The draft law on oil and gas, which will among other things abolish the exclusive rights held by state oil company Pertamina to develop the country's oil and gas resources, is now being debated at the House of Representatives.

The House is expected to pass the bill into law later this month.

"We have perfect timing in holding this conference as the bill is expected to be finalized in late August," he said, adding that the participants could hear the legislation and its implications straight from the ministers.

Foreign oil and gas companies were mostly anxious over the outcome of the House's debate as the new legislation, if approved, would give them easier access to tap the country's oil and gas resources, Fernando said.

Keynote speeches will be delivered by OPEC secretary-general Rilwanu, Minister of Mines and Energy Kuntoro Mangkusubroto, and Pertamina president and CEO Martiono Hadianto.

Rilwanu will talk about the changes in global energy production and the development of Indonesia's downstream sector, according to the organizer.

Kuntoro and Martiono will be speak about the changes in the oil and gas industry's operations under the new legislation.

Fernando said other confirmed speakers included State Minister of Investment Marzuki Usman and State Minister for Empowerment of State Enterprises Tanri Abeng.

Besides Rilwanu, foreign speakers at the conference would also include Kuwait Minister of Oil Sheik Said Nasser Al Sabah.

The conference was originally scheduled to be held in Jakarta, but the political uncertainties caused the change in venue to Bali, which was considered a neutral territory, he said.

Fernando said the committee would distribute 300 to 400 complimentary airplane tickets for mid-level managers of oil companies, government officials, and experts due to the venue change.

The total budget spent in one year of preparations reached US$600,000, he said, adding that the committee did not expect any profit from this year's conference.

"We plan to make this an annual event and hope that we would make a profit starting IIOGE 2000," he said. (02)