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vrijdag 28 oktober 2016

Indonesië: Pertamina unit builds new oil rigs in East Java

Pertamina unit builds new oil rigs in East Java

Oil and gas firm Pertamina Hulu Energi West Madura Offshore (PHE WMO) has begun the construction of two oil rigs off the coast of Madura, East Java, in an attempt to increase national oil production. PHE WMO is part of state-owned oil and gas giant Pertamina. The two offshore rigs, PHE-12 and PHE-24, are expected to boost national oil production by 40 percent in 2019. At present, Pertamina only contributes 23 percent to the total national oil production, which amounts to 830,000 barrels of oil per day (bopd). Pertamina president director Dwi Soetjipto said the construction of PHE-12 — which will produce oil — and PHE-24 — which will produce gas — would be a new standard for the firm to explore and exploit oil and gas.

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Govt Relaxes Tax Amnesty Rules to Allow More Assets Repatriated

The Finance Ministry has relaxed rules for repatriating assets under government tax amnesty program in order to boost funds flowing into the country.  Amnesty participants can now bring in non-cash assets, like stocks or global bonds, to Indonesia and place them with local custodians. The participants can also use repatriated cash to inject capital into local companies, who will use the fund under its own discretion. Previously, the funds should be invested in local infrastructure projects. Cash repatriation can be done in stages, but the countdown for the three-year lock up period, within which participants cannot move their funds abroad, would start only after all the funds repatriated, Robert Pakpahan, head of the debt management office at Finance Ministry, said over the weekend.

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Foreign Investment Realization in C. Java Reaches 90%

Central Java Investment Coordinating Board (BPMD) recorded that the region's investment realization as of Q3 of 2016 has reached Rp25 trillion or 90% of its full year target. Foreign investments have contributed the largest to the total investments in the region.  Central Java BPMD chief Sujarwanto Dwiatmoko said foreign investors have been attracted by land availability and labor supply in the region. Of Rp25 trillion investment, Rp15 trillion was from foreign investors and Rp10 trillion from domestic investors. "They have been expanding and opening new businesses," Sujarwanto explained on Monday, October 17, 2016.

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Indonesian Aviation Industry Developing Nicely: Minister

Industry Minister Airlangga Hartanto said Indonesia's aviation industry continues to develop and grow significantly, citing increasing air traffic of both passenger and cargo. "The growth of domestic passengers has increased at an average of 15 percent per annum in the past ten years. Whereas the number of international passenger has risen by around 8 percent. In addition, Indonesia is the world's third largest country in Asia in terms of aircraft purchase behind China and India," Airlangga said in a press release on Wednesday (19/10). Airlangga said that Indonesia also has the infrastructure to develop aviation industry.

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Pertamina Adjusts Fuel Prices in Papua

Dwi Soetjipto, CEO of state-owned oil and gas company Pertamina, said that the company will adjust the prices of fuel in all regions of Papua and West Papua. The adjustment will be made based on President Joko Widodo's instruction. The President expected that the price of fuel in Papua will be the same as in Western Indonesian regions. Dwi said that new fuel price will be similar to prices in Java and will apply for all types of fuel. Dwi added that President Jokowi will make the official announcement during his work visit in Papua, Tuesday, October 18, 2016.

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Batam Eyes Rp9.7 Trillion Investment

Batam Indonesia Free Zone Authority (BIFZA) is targeting to pull in US$750 million (Rp9.7 trillion) worth of investments by the end of this year. BIFZa's deputy for public service Gusmardi Bustami said that as of August 2016, the amount of capital inflows has reached US$ 350 million. "We are on the right track to achieve the target," Gusmardi said on Monday, October 24, 2016. BIFZA will lead investments towards ​​Batam, Riau Islands, and in industrial sectors that have great added values.

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