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Indonesia to grant more incentives to attract foreign investors. The Indonesian government will give incentives, on a case-by-case basis, to parties interested in developing marginal fields. The cash-strapped country is desperate to attract funds after four years of crises. Energy Minister Purnomo Yusgiantoro said, "There are potential oil reserves in marginal fields, and we understand oil companies need incentives to develop those fields." Unocal Indonesia CEO Brian Marcotte said suitable incentives would be in the form of oil and gas splits, flexibility in taxation and investment credit. Marcotte added that the government had to give clear direction on new regulations.
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Houston, TX - November 4-5
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