Pertamina told to explore abroad

Pertamina told to explore abroad

JAKARTA (JP): Minister of Mines and Energy Ida Bagus Sudjana
yesterday called on the state oil company Pertamina and its
contractors to explore for oil and natural gas abroad.

"Oil exploration activities should not be limited to here. Our
investment in oil may also be abroad," Sudjana said at the
opening of a panel discussion at the Center for Oil and Gas
Research and Technology Development here yesterday.

The minister said expanding exploration activities abroad was
necessary, as oil and gas would continue to serve as the main
energy resources in Indonesia for the next 25 years.

Oil experts have predicted that Indonesia will become a net
oil importer within the next 20 years if the country does not
find new oil reserves.

"It is not easy to attract new investors to look for new oil
reserves, as countries like Vietnam and Myanmar are doing it as
well," Sudjana said.

Responding to Sudjana's call, Pertamina's exploration and
production director, Priyambodo, said expanding oil and gas
exploration activities abroad was a new alternative and deserved
serious consideration.

He acknowledged that investment opportunities for oil and gas
were wide open abroad, especially in Middle Eastern countries and
in Vietnam.

"That's why many multinational oil investors, including some
from Indonesia, are competing for exploration activities in the
Middle East," Priyambodo was quoted by Antara as saying.

He said Pertamina itself was considering investment in the
Middle East. "However, we are still in the preparatory stage of
realizing our overseas investment plans." (rid)