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)