“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)
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Wednesday, September 05, 2007

Aabar set to spend big in RI

Ika Krismantari, The Jakarta Post, Jakarta

The Middle East's first publicly listed company in the oil and gas sector, Aabar Petroleum Investment Company, plans to invest US$500 million in the next three years on exploration and production work in Indonesia.

CEO David Woodward said Tuesday that the company would use the money mostly for the development of its gas block in Sebuku in the Makassar Strait, offshore East Kalimantan.

"We submitted to BPMigas (the Upstream Oil and Gas Regulatory Agency) the plan of development for Sebuku at the end of August, and clearly we are hoping for approval," Woodward told The Jakarta Post after a meeting with Energy and Mineral Resources Minister Purnomo Yusgiantoro.

Of the $500 million, he said, $140 million would be spent next year on the development of a number of its blocks, including the Mengoepeh oil block in South Sumatra.

Aabar, which operates in Indonesia through its wholly owned subsidiary Pearloil, has eight contract areas in South Sumatra, offshore East Java, offshore East Kalimantan and Papua, with four of them already at the production stage.

Woodward said the company was keen on expanding its exploration activities in Indonesia through open tender and direct-offer opportunities.

The company will consider participating in the government's next tender for the rights to 25 oil and gas blocks.

"We are certainly interested and we would like to acquire additional acreages and build up our portfolio in Indonesia," Woodward said, while declining to name any blocks.

The government is scheduled to invite bids for 25 oil and gas blocks later in September, promising incentives in the form of a better split mechanism for interested investors.

Abu Dhabi-based Aabar was established two years ago, and focuses on oil and gas exploration and production.

It also intends to pursue exploration opportunities in other parts of Southeast Asia and North Africa.

Last year, Aabar acquired 100 percent of Pearl Energy, a Singapore-based oil and gas firm engaged in the exploration, development and production of oil and gas in Southeast Asia.

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