Indonesia Looks for Investors

In October 2004, the Indonesian government will offer 10 more oil and gas blocks to investors and hopes they could invest in the oil and gas business as early as 2005.

"We will offer 10 new oil and gas blocks in October," Director General of Oil and Gas Iin Arifin Takhyan said on Tuesday. However, he stopped short of revealing the locations of the new oil and gas blocks.

He expressed hope that the investors could sign a contract for the operation of seven out of the 10 oil and gas blocks in March 2004. "The seven oil and gas blocks will soon be announced in newspapers," he said.

Takhyan also said the investment climate in the oil and gas sector was fairly good as could be seen from the spendings in the sector which showed an upward trend.