Indonesia is reopening discussions this week on the tax, financial and other incentives it will give investors and oil producers ready to help the country build additional refineries so that it can become self-sufficient and less reliant on oil product imports.
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Seven gas sales contracts worth US$1.88 billion were signed Friday, upstream oil and gas regulator BPMigas said.
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BP said Friday it was awarded a 100% interest in the North Arafura oil and gas production sharing contract in onshore Papua Province, Indonesia.
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Australian exploration and production company Santos on Friday made a final investment decision approving the development of the Wortel gas project offshore Madura Island in Indonesia, with first gas expected by the end of 2011.
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State energy company Pertamina’s plan to buy a stake in Medco Energi Internasional is facing opposition from lawmakers, who say Pertamina should optimize its existing oil and gas production rather than increasing output through acquisitions.
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BPMIGAS, Indonesia's oil and gas regulator, sees Indonesian oil production at 970,000 barrels-per-day (bpd) in 2011, up from its projection of 965,000 bpd for 2010.
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The government revealed Tuesday that Indonesia still has sufficient fuel supplies until the end of this year.
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State oil and gas firm PT Pertamina says it sent a legal complaint to PT Freeport Indonesia, the local unit of US-based Freeport-McMoran Copper & Gold Inc, calling the miner’s fuel tender unfair.
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Oil giant BP has won exploration rights for the development of an oil and gas block in the southern part of Papua.
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Natural gas producer PT Arun NGL, a partly-owned subsidiary of state oil and gas producer Pertamina, is now working on options for survival as its gas production in Aceh will cease in 2014.
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