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Wednesday, March 21, 2007

Indonesia awards multi-billion dollar energy contracts

Jakarta (ANTARA News) - The Indonesian government on Wednesday awarded 37 energy contracts worth billions of dollars in total, a report said.

The contracts included exploration deals worth 4.1 billion dollars, domestic gas supply agreements worth 1.61 billion dollars and oil and gas sector contracts amounting to 1.39 billion dollars.

There were also 21 electricity supply contracts and amendments to coal deals at the meeting on the main island of Java, the Detikcom news website report said.

The projects are expected to create 26,000 jobs, Detikcom was quoted by AFP as saying.

"From January to March, investment commitments in the energy sector have already reached 19.4 billion dollars," Energy and Mineral Resources Minister Purnomo Yusgiantoroso was quoted as saying at a signing ceremony.

"We are optimistic that by the end of 2007, the investment can rise further and exceed that in previous years," he said.

Separately, President Susilo Bambang Yudhoyono inaugurated four projects by state oil and gas firm Pertaminain.

They included the development of two oil and gas fields, a fossil fuel transit terminal and a fuel depot.

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