Jero Wacik convinced BP into agreeing to invest up to US$12 billion.London (ANTARA News) - Energy and Mineral Resources (ESDM) Minister Jero Wacik has succeeded in convincing Britain`s oil giant British Petroleum (BP) to invest more in Indonesia.
BP has a large oil and gas stake in Papua, operating the Tangguh liquefied natural gas plant and a gas block in that region.
Jero Wacik convinced BP into agreeing to invest up to US$12 billion for a third production facility of the Tangguh liquefied natural gas plant in Papua, Susyanto, a spokesman of the ESDM ministry said.
In addition, Premier Oil also pledged to invest US$700 million in Indonesia, Susyanto said.
Jero Wacik was here accompanying President Susilo Bambang Yudhoyono on a state visit from Oct 30 to Nov. 3.
Susyanto told ANTARA energy sector is one of the agenda of talks during the state visit.
Before the state visit, the 1st RI - UK Energy Dialogue was held exchanging information about oil and gas , electricity , mineral and coal , environmentally friendly technology and energy planning.
A number of agreements were reached in the dialogues including on energy modeling, carbon capture and storage project (CCS) and future`s energy laboratory.
A concept of Joint of Arrangement (JoA) on Energy between Indonesia and Britain was also discussed at the meeting and was signed on Thursday.
(Uu.AS/H-ASG/A014)
Editor: Priyambodo RH
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