Saturday, May 15, 2010 00:08 WIB | Economic & Business |
Jakarta (ANTARA News) - The government has named the winners of contracts on 14 oil and gas blocks offered in the second phase of its 2009 tendering-out program, an Energy and Mineral Resources Ministry official said.
The 14 blocks consisted of 11 offered through direct tenders and three through regular auctions, Edy Hermantoro, the ministry`s upstream oil and gas director, said here on Friday.
"The auction results this time are quite encouraging particularly those of the blocks offered through direct tenders," he said.
The promising bids for the blocks were inseparable from the improved global economy and the favorable oil price of US$80 per barrel, he said.
The auction results also indicated that Indonesia was still a promising investment destination including in the oil and gas sector, he said.
"The other indication is that such experienced companies as Black Gold and Respsol are among the tender winners. Repsol came back to Indonesia after leaving in the 1990s," he said.
He said only three bidders for 12 blocks put to regular auctions were named winners.
"This is because of risky regions so comprehensive knowledge of geology is needed," he said.
The other cause was a relatively short time so that it influenced the bidders` evaluation, he said.
"In the next tenders we will give investors enough time so they can make a comprehensive study," he said.
The winners of the blocks offered through direct tenders are PT Sargas & Vega for Puri Block, Cakra Nusa Darma (SKKMG) Ltd for Sakakemang Block, a consortium of Komodo Energy LLC-Niko Resources (Overseas XI) Ltd for Sunda Strait I Block, a consortium of PT Baruna Recovery Energy-Awe Ltd for North Madura Block, a consortium of PT Bumi Hasta Mukti-Fortune Empire Group Ltd for Mandala Block, PT Leogryph Indonesia for Karapan Block, PT Kalisat Energi Nusantara for Long Hubung Long Bagun Block, PTT Exploration and Production Public Co Ltd for Malunda Block, and a consortium of Talisman (Asia) Ltd-PTT Exploration and Production Public Co Ltd for South Mandar, Sadang, and South Sageri Blocks.
The winners of three blocks offered through regular auctions are a consortium of Repsol Exploracion SA-Niko Asia Ltd for Cendrawasih Bay II Block, and a consortium of Black Gold Ventures LLC-Repsol Exploracion SA for Cendrawasih Bay II and Cendrawasih Bay IV Blocks.
A total of 24 blocks were put to the second phase of tenders in 2009, consisting of 12 blocks offered through direct tenders and 12 blocks through regular auctions.
(T.K007S012/HAJM/P003)COPYRIGHT © 2010
Indonesia may be not imports rice this year
Wednesday, May 12, 2010 20:59 WIB | Economic & Business |
Jakarta (ANTARA News) - Indonesia will not need to import rice if it can raise its stock to 2.4 million tons this year, State Logistics Board (Bulog) chief Sutarto Alimoeso said."If we are able to reach the 2.4 million ton figure, there is no need for Indonesia to import rice at least until the end of the year," Alimoeso said here on Wednesday. He said that his agency now still had a rice stock of one million tons.
Based on the forecast I (ARAM) figure in 2010 the rice harvest areas were recorded at 12.89 million hectares with a yield of 50.34 quintals per hectare and a production of 64.9 million tons of milled dry unhusked rice (GKG) or equal to 40.71 tons of milled rice.
"There are many benefits that we can reap if we do not import rice like in 2008 and 2009," he said.He said that because it did not import rice in those years Indonesia was able to save on its foreign exchange and reduce pressures on the state budget. Besides that, procurement at home was also increasing so that farmers` income could be raised, job opportunities could be created and agriculture development could be encouraged."During the procurement period in 2008 and 2009, a total of Rp14-15 trillion of funds flowed to farmers a year," he said.
(A014/HAJM/S012/S026)
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West Java offering geothermal energy potentials to New Zealand
Monday, May 10, 2010 22:13 WIB
Economic & Business
Bandung, W Java (ANTARA News) - The West Java government is to offer opportunities to invest in geothermal energy development to New Zealand to speed up its regional electrification program, a provincial official said.
"Only 20 percent of West Java`s geothermal energy potential of 6.101 MW is currently being utilized and therefore we will invite investors to conduct geothermal explorations on `business-to- business` basis," West Java Governor H Ahmad Heryawan said here Monday. He said he would visit New Zealand May 10-14, 2010 to discuss the matter with local government officials and businessmen. He pointed out West Java had huge geothermal energy potential because it was geographically located in an area with many volcanoes. Therefore, the West Java administration would now promote the province`s geothermal energy potential among investors and continue to do so over the next few years. So far, he said, electricity was available in only 64.5 percent of West Java`s land territory. "Geothermal energy development is expected to speed up West Java`s electrification program while the region contributes some 4.654 MW to the Java-Bali power supply network," the governor said.
Besides offering West Java`s geothermal energy potentials, Heryawan would also promote several infrastructure and plantation projects during his visit to New Zealand. (*)
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TRANS CORP IN PARTNERSHIP WITH CARREFFOUR INDONESIA
International Super Market News 16 April 2010.
As quoted from: http://www.internationalsupermarketnews.com/
Trans Corp and Carrefour have announced that they have concluded a strategic partnership agreement aimed at accelerating Carrefour's growth and development in Indonesia. Under the agreement, Trans Corp is acquiring
Carrefour Indonesia started operations in 1998 and now operates 79 stores (63 hypermarkets, 16 supermarkets) in 22 cities. 2009 gross turnover amounted to €890m for 12,000 employees and Carrefour Indonesia works with thousands of suppliers, including many SMEs across Indonesia. Carrefour plans to open 13 new stores in 2010.
Para Group is one of the fastest-growing Indonesian groups. Founded by Chairul Tanjung, the Group provides financial services through more than 800 branches and operates over 300 retail stores. In addition, Para Group runs two of Indonesia’s leading national TV stations, Trans TV and Trans 7, and recently opened Trans Studio, a world class indoor theme park in Makassar. Para Group’s businesses employ more than 40,000 people across Indonesia.
ASEAN's economy to grow by 5.4 percent in 2010: IMF
English.news.cn 2010-04-21 22:02:33
Quoted from: http://news.xinhuanet.com/
WASHINGTON, April 21 (Xinhua) -- Driven by domestic demands, economies in five countries in the Association of Southeast Asian Nations (ASEAN) is expected to grow by 5.4 percent in 2010, said the International Monetary Fund (IMF) on Wednesday.
"The ASEAN-5 economies are projected to grow by 5.4 percent in 2010. Private domestic demand is expected to be the main driver of growth," said the IMF in its latest World Economic Outlook report, referring to Indonesia, Malaysia, Philippines, Thailand and Vietnam.
Among the ASEAN-5, the Indonesian economy has proved to be remarkably resilient, with output growing at 4.5 percent in 2009 compared with 1.75 percent for the ASEAN-5 as a whole, thanks to strong domestic demand and less dependence on trade.
"Indonesia's growth is expected to accelerate to 6 percent in 2010 and to 6.25 percent in 2011, reflecting a pickup in private investment," said the IMF.
In the report, the IMF said "the global recovery has evolved better than expected, with activity recovering at varying speeds, tepidly in many advanced economies but solidly in most emerging and developing economies."
The world economy, which declined by 0.6 percent in 2009, will recover gradually in 2010 and 2011, growing by 4.2 percent and 4.3 percent respectively, according to the IMF, Asia's GDP is projected to grow by 7 percent in both years.
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