N.Z. OIL VENTURE

Press, Volume CXIII, Issue 33386, 19 November 1973, Page 1

N.Z. OIL VENTURE

(N.Z. Press Association) WELLINGTON, Nov. 18. Indonesia has been suggested as the site of a joint New Zealand-Austra-lian oil search, the Prime Minister (Mr Kirk) said in an interview tonight. He was commenting on a newspaper report that Indonesia will be the prime foreign target for the search, which was proposed by the Prime Minister. Mr Kirk said the report highlighted a suggestion made by the Indonesian Foreign Minister (Dr Adam

Malik), while he was in Wellington a fortnight ago. “There’s a lot of work to be done first,” Mr Kirk said. “But Indonesia is being considered.” On Friday, Mr Kirk announced in Melbourne that there were two possible joint ventures in which New Zealand would invest. One was the possibility of producing oil from Australia’s vast coal resources, and the other involved exploration in a third country which Mr Kirk would not then name.

“Indonesia certainly has potential as a joint venture,” Mr Kirk said today. “But it’s early days yet, and a serious examination of the project will have to be made. “A lot of New Zealand firms are involved in development assistance programmes in Indonesia, and some of these will be interested in this proposal. “But there is considerable work to be done before anything definite can be decided,” Mr Kirk said.