Japan funds Indonesian oil exploration
j NZPA-Reuter Tokyo Indonesia Nippon Oil Co- , operation Company, Ltd ; (INOCO), was discussing I with Indonesia the financing ! of new oil development projects there to secure more oil supplies for Japan. The company declined to elaborate on the size of financing, but the Japanese financial daily “Nihon Keizai Shimbun” said that the Japanese investment company had decided to provide Indonesia’s State-run oil corporation. Pertamina, with SB2M for its new development projects in Sumatra, (Java, and Kalimantan. The Japanese firm expected to get about half the 'increased oil output from new oilfields to be developed I there. |
The Japanese firm had previously agreed to fund about SI4SM for Pertamina’s oil prospecting projects. But the expected finances will be in addition to this.
■ Indonesia provided Japan with about 220 M barrels c» oil in the last financial year, and ranks third as a source of oil for Japan.
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Press, 28 November 1979, Page 25
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151Japan funds Indonesian oil exploration Press, 28 November 1979, Page 25
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