“ … 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.)

Friday, November 16, 2007

Foreign investors invited to tap Indonesia`s oil fields

Denpasar, Bali (ANTARA News) - The Indonesian Geophysicists Association (HAGI) has signed a cooperation agreement with its United States counterpart to encourage foreign investment in Indonesia`s petroleum drilling industry.

"The two sides signed the agreement on September 22, 2007. The agreement is expected to help attract foreign investors so that Indonesia`s oil production will increase," HAGI Chairman Abdul Mutalib Masdar said here on Thursday.

Speaking on the sidelines of a convention, the HAGI chairman said foreign investment was badly needed to tap Indonesia`s oil resources.

He said Indonesia had large petroleum reserves which had not yet been developed maximally, particularly in areas which were prone to natural disasters.

"The Indonesian government should improve the investment climate and draw OPEC (Organization of the Petroleum Exporting Countries)`s attention to the country`s oil reserves," Abdul Muthalib said.

Indonesia, once one of the most important oil exporters in the world, has become a net oil importer in recent years due to a continuing decline in its crude oil production.

Indonesia, now the second smallest member in OPEC, is dire need of private investment to boost the oil and gas output of its aging fields.

Indonesia`s oil production reached its first peak in 1977, at approximately 1.6 million barrels per day, rising from 500,000 barrels per day in just 10 years. Production peaked a second time in 1995 to just over 1.6 million barrels a day.

Since 1995, production had steadily declined and in 2006 was down to just 1 million barrels per day, or roughly a 37.5 percent decline, making the country a net oil importer.

Natural gas has fared better, with production averaging approximately 8.3 billion cubic feet per day, down just 3.44 percent from its peak of 8.7 billion cubic feet per day in 1996.

Earlier this year, the government announced a target of increasing oil and gas production by 30 percent to 1.3 million barrels per day and 8.5 billion cubic feet per day, respectively by 2009.

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