[Kabar-indonesia] 17 oil/gas/mining reports: Java Pipeline Deadline; ConocoPhillips/ENI; Coal

[JoyoNews at aol.com]

Note: also see the previously sent: Newmont 
says it's under investigation by Uzbekistan

17 Reports:

- Indonesia regulator gives Pertamina
  2 mths to decide on Java pipeline 
  project
- Upstream: Indonesia set to sweeten 
  terms [ConocoPhillips and Eni to 
  receive improved offers to speed work]
- Indonesia seeks 95-Ron gasoline,
  fuel imports steady
- Indonesia to buy 10.9mln bbls oil
  products for Sept
- Platts: Pertamina to buy Tapis, 
  Angsi and Kidurong crudes for 
  October
- Platts: Indonesia imports a net
  28,000 barrels/days of crude in July
- Indonesia's Dumai refinery returns to
  full service
- Platts: Pertamina to shut platformer 
  at Dumai refinery this month
- Indonesia's PT Elnusa to build
  US$663 mln oil storage facility
- Upstream: Total talks
- Upstream: Serica on song at 
  Kambuna
- Indonesia Plans 10.0% Coal 
  Value Added Tax By 2007
- Indonesia's Tambang batubara 
  targets US$400 mln yr income
- Bloomberg: Vale Offers C$19.4 
  Billion in Cash for Canada's Inco 
- Myanmar Signs Pact With 
  Petronas To Do Gas Pipeline 
  Study
- Petromindo Headlines, 
  Friday, August 11, 2006: 

Indonesia regulator gives Pertamina 2 mths 
to decide on Java pipeline project

JAKARTA, August 11 (AFX) - Downstream oil and gas regulatory body BPH
Migas said PT Pertamina has two months from Aug 8 to decide whether to
pull out or go through with the 250-km Gresik-Semarang gas pipeline
project that it won through a tender.

Pertamina was named as the winning bidder after proposing the lowest
toll fee for the project of 25 US cents per mln British thermal unit
(mmBtu). Its bid estimated the project cost at 179.7 mln usd and was
backed by lenders PT Bank Negara Indonesia (BNI) and BNP Paribas.

But the pricing of its proposal had assumed a deal for the use of PT
Kereta Api's land and train railways for the pipeline. That deal
appears to fallen through, prompting Pertamina to propose an upward
revision in its capex plan and toll fee.

'An escalation in the price is something that is impossible. It is
against the rules,' said BPH Migas chairman Tubagus Haryono.

'A price change can only be made after a project has been in operation
for a certain period,' he said.

'There are two alternatives -- transfer the project (to the second
best bidder) or make another tender. But it will take time to make
another tender,' Haryono said.

BPH Migas had named PT Rekayasa Industri as second-best bidder
although its proposed toll fee of 41 US cents per mmbtu was higher
than that of another bidder, PT Bakrie Brothers, which was at 36 US
cents per mmbtu.

Haryono said a winner was not selected solely based on the toll fee
proposed but also on other aspects of the bids.

The project is part of a planned 480-km pipeline stretching from
Gresik in East Java to Cirebon, West Java.

-----------------------------------

Upstream
August 11, 2006

Indonesia set to sweeten terms

ConocoPhillips and Eni to receive 
improved offers to speed work

by Amanda Battersby

The Indonesian government will offer improved terms to ConocoPhillips
and Eni to speed up development of gas fields on their respective
Block A and Krueng Mane production sharing contracts so that local
fertiliser companies will have sufficient feedstock.
The government wants US supermajor ConocoPhillips to begin production
at Block A in Nanggroe Aceh Darussalam in 2009, one year ahead of the
earlier schedule as fertiliser company Pupuk Iskandar Muda (PIM) is
desperate for gas at its plants in Lhokseumawe, Energy & Mineral
Resources Minister Purnomo Yusgiantoro said.

A development plan has been prepared for three of the five significant
gas discoveries - Alur Siwah, Alur Rambong and Julu Rayeu - made on
Block A since the 1970s. Third-party proven and probable estimated
reserves for four of these five discoveries are a combined 680 billion
cubic feet of gas.

The PSC covers 3687 square kilometres onshore Aceh, 45 kilometres east
of ExxonMobil's producing Arun gas field.

The existing infrastructure at Arun and ExxonMobil's nearby South
Lhoksukon and Pase fields offers development and operational options
for Block A, ExxonMobil earlier said.

Gas sales negotiations between ConocoPhillips and PIM have begun, 
Purnomo added.

He said that the government would stick by its earlier offer of
improved revenue sharing terms for Block A where development has not
yet been carried out because of the high level of carbon dioxide in
the gas requiring more expensive anti-corrosion pipelines.

The previous partners had sought a 52:48 revenue split in the
government's favour, while the best offer to come from the Indonesian
authorities was a 50:50 split.

This is still significantly better than the 65:35 terms stipulated in
the existing PSC, which is due to expire in 2011.

Also under pressure to quickly develop gas to supply to PIM is Italy's
Eni, which last year discovered gas reserves at its Krueng Mane block.
The operator has asked upstream regulator BP Migas for incentives to
develop Krueng Mane, which will produce an estimated 200 billion cubic
feet of gas.

The block is located off Sumatra and new pipelines will be needed
transport the gas to shore.

BP Migas officials have indicated that they will be prepared to offer
improved revenue-sharing terms to Eni because of the importance of
securing gas for PIM, but no firm deal has yet been agreed.

PIM built a second fertiliser plant in Aceh several years ago despite
having no guarantee of being able to secure the 55 million cubic feet
per day of gas that it would require.

Production at the Arun field in Aceh is declining, leaving
insufficient gas for feedstock at the Arun liquefied natural gas plant
let alone to supply volumes to other industries.

The Arun gas sales contract with PIM expired in June 2005, while
deliveries to other fertiliser producers were also halted, forcing
one, AAF, to suspend production.

Partners in the Block A PSC are operator ConocoPhillips, Premier Oil,
Medco Energi and Japex.

The three co-venturers earlier this year paid $51 million to jointly
acquire the 50% interest that had been held by ExxonMobil.

------------------------------------------------------------

Indonesia seeks 95-Ron gasoline, fuel imports steady

By Yaw Yan Chong

SINGAPORE, August 11 (Reuters) - Indonesia will import 10.9 million
barrels of oil products for September, down 6 percent from August and
in line with forecasts for steady imports for next month, industry
sources said on Friday.

But Pertamina is keeping high imports of gasoline totalling 3.9
million barrels -- down by just one 200,000-barrel lot -- including a
rare 95-octane cargo purchase. The state firm will continue to buy
more of the high-octane grade to phase out leaded petrol use.

Under the "Blue Sky" programme, Indonesia originally planned for Java
island to go lead-free by 2002 and to ban sales of leaded gasoline
throughout the country by 2003.

However, problems modifying refineries in Balongan in West Java, and
Cilacap in Central Java to boost production of unleaded gasoline
limited its supply to Greater Jakarta, West Java's Cirebon, Bali and
Batam islands, accounting for about 25 percent of the country's
gasoline demand.

Indonesia's gas oil imports were at 6.0 million barrels, down from 6.6
million for August, while fuel oil volumes were steady at 800,000
barrels.

"The volumes are pretty steady or slightly lower than what they bought
last month, which is well within expectations of what they had said
they would buy," a Jakarta-based trader said.

Pertamina did not issue any tenders for its September supply but
covered its additional requirements via the spot market, while the
bulk of the country's demand was met by term parcels.

Most of the spot purchases were for high-octane gasoline: four
92-octane cargoes, totalling 700,000 barrels; one 95-octane parcel and
two 88-octane cargoes.

Part of Indonesia's gasoline requirements were met by three cargoes of
the 88-octane grade spilled over from August, when Pertamina bought
4.2 million barrels, the highest in 11 months.

TOWARDS UNLEADED FUEL

The purchase of the 200,000-barrel 95-octane cargo is aimed at
boosting Pertamina's unleaded petrol inventory.

"We use high-octane gasoline for blending as Pertamina will remove
leaded gasoline from the market in Indonesia and change them with
unleaded," Hanung Budya, deputy director of marketing at Pertamina,
told Reuters in Jakarta.

"That's why we import more gasoline in September and we will continue
to do so in future with volume according to our needs," Budya said,
adding the requirement has nothing to do with the price of
unsubsidised gasoline Pertamax and Pertamax Plus.

Pertamina is still selling leaded gasoline in some areas in Indonesia
and had sought to replace it with unleaded gasoline from July.

Traders earlier said the increased imports of higher-octane gasoline
could be due to higher consumer demand after the government cut pump
prices in early June, in a bid to reduce purchases of subsidised
lower-octane motor fuel.

Some traders said Pertamina could seek more gasoline as inventories
were low at 17.2 days worth of demand, below the desired 22-23 days.

Budya had earlier said the company could seek two to three more
gasoline cargoes, adding that inventories for other oil products were
at steady levels, with national stock levels at 22.8 days and diesel
at 23.7 days.

Pertamina bought two spot gas oil cargoes of 600,000 barrels each from
affiliates Pacific Petroleum Trading (PPT) and the joint-venture
Korea-Indonesia Petroleum Co (KIPCO).

The refiner bought a 200,000-barrel 140-centistoke (cst) fuel oil
parcel from its trading arm Petral in the spot market. (Additional
reporting by Mukils Ali in Jakarta and Cho Mee-young in Singapore)

-------------------------------------------------------

Indonesia to buy 10.9mln bbls oil products for Sept

SINGAPORE, August 11 (Reuters) - Indonesia will import 10.9 million
barrels of oil products for September, down 6 percent from August and
in line with forecasts for steady imports for the month, industry
sources said on Friday.

Despite lower total volumes, state-owned Pertamina is buying high
volumes of gasoline totalling 3.9 million barrels, down by a single
200,000-barrel parcel, including a rare cargo of 95-octane.

Gas oil imports were at 6.0 million barrels, down from 6.6 million for
August while fuel oil volumes were steady at 800,000 barrels.

----------------------------------------------------------

Platts Commodity News
August 11, 2006

Pertamina to buy Tapis, Angsi and Kidurong crudes for October

Indonesia's Pertamina is likely to buy 1.8 million barrels of
Malaysian crude for October, including two 600,000 barrel cargoes of
Tapis and a 600,000 barrel co-load cargo of Angsi and Kidurong crudes,
traders said Friday.

The first cargo of Tapis crude was heard bought at a $1.30 to
$1.40/barrel premium to Malaysia's official selling price, and the
second at a premium of $1.00 to $1.30/barrel, market sources said.
Both cargoes are for delivery to Pertamina's 348,000 b/d Cilacap
refinery.

The co-load Angsi and Kudurong cargo was heard awarded between APPI
Tapis plus $3.90/barrel to $4.00/barrel.

Malaysia's Tapis OSP is based on the monthly average of APPI Tapis
assessments plus a differential announced early each month by
Petronas. The average published benchmark for July was $72.41/barrel.

------------------------------------------------------------

Platts Commodity News
August 11, 2006

Indonesia imports a net 28,000 barrels/days of crude in July

Indonesia imported a net 28,000 barrels/day of crude oil during July,
marking the third consecutive month the OPEC member was a net
importer, figures from Indonesia's Energy and Mines Ministry showed
Friday.

Indonesia imported 328,000 barrels/day of crude during the month, down
14.1% from 382,000 barrels/day in June, but more than offset by a
69,000 barrels/day on-month fall in crude exports.

Indonesia's crude import and export volumes so far this year are as follows:

                   Export                 Import                 Net
January       322,600 b/d        234,400 b/d         88,200 b/d
February     366,100 b/d        166,600 b/d        199,500 b/d
March         314,400 b/d        130,300 b/d        184,100 b/d
April           289,000 b/d        286,100 b/d          2,900 b/d
May            267,200 b/d        275,000 b/d        - 7,800 b/d
June            369,000 b/d        382,000 b/d       - 13,000 b/d
July             300,000 b/d        328,000 b/d       - 28,000 b/d

-------------------------------------------------------------

Indonesia's Dumai refinery returns to full service

JAKARTA, August 11 (Reuters) - Indonesia's 120,000 barrel per day
Dumai refinery returned to full operations several days ago after
running at reduced rates since late June due to technical
difficulties, a Pertamina official said on Friday.

"We are already back to 100 percent at Dumai," Suroso Atmomartoyo,
processing director at Pertamina, told reporters. He said a vacuum
unit was running at 91 percent and two gasoline-making platformers
were at 95 percent of capacity.

He said Pertamina would shut down the refinery's 8,000 bpd platformer
for about two weeks to change the catalyst later this month, but gave
no further details on the timing.

--------------------------------------------------------

Platts Commodity News
August 11, 2006

Pertamina to shut platformer at Dumai refinery this month

Indonesia's state-owned oil and gas company Pertamina plans to
shutdown its 8,000 b/d platforming unit in its Dumai refinery in
Sumatra for two weeks within this month, as the company aims to
replace the catalyst, a senior official said Friday.

He noted that Dumai's CDU has reached 100% capacity on Tuesday after
being maintained since June. Meanwhile vacuum unit is currently at 91%
and the two platforming units have a capacity of 6,000 b/d and 8,000
b/d respectively.

The cooling water problem in Dumai caused Pertamina had to shutdown
Dumai's 120,000 b/d crude distillation, vacuum unit and platforming
units on June 23.

Indonesia currently has seven oil refineries, all owned and operated
by Pertamina, with a capacity of 1.050 million b/d. All of refineries
are located in Sumatra, Java, East Kalimantan and Papua.

----------------------------------------------------------

Indonesia's PT Elnusa to build US$663 mln oil storage facility

JAKARTA, August 11 (Asia Pulse/Antara) - PT Elnusa, a subsidiary of
the state oil and gas company, Pertamina, will build a crude oil and
oil fuel storage facility in Bojonegoro, Serang, Banten at a cost of
US$663 million.

Head of the Banten regional office of the Investment Cordinating Board
(BKPM), Turmudzi, said Elnusa will build the facility in cooperation
with an Iranian investor.

The facility will be able to hold up to 300,000 barrels of crude oil
per day, Turmudzi told the newspaper Bisnis Indonesia.

Elnusa President, Rudy Radjab, said construction of the facilities
will start next year and is to be completed in 24 months.

-----------------------------------------------------------

Upstream
August 11, 2006

Total talks

French giant Total has approached Indonesian upstream regulatory
authority BP Migas regarding the possible extension of its Offshore
Mahakam production sharing contract, more than a decade before its
expiry date.

Total has been investing about $1 billion annually on the Offshore
Mahakam block, which currently delivers most of its 2.6 billion cubic
feet per day of gas output to Badak NGL's liquefied natural gas
project at Bontang, East Kalimantan.

As well as determining whether or not an extension to the PSC, in
which Japan's Inpex holds an equal 50% interest, will be possible
post-2017, Total is also keen to find out if Indonesian authorities
will require gas to be committed to the East Kalimantan-Java pipeline
project.

The outcome of these talks will be key to Total determining its medium
to long-term investments in Indonesia, national news agency Antara
reported.

--------------------------------------------------------------

Upstream
August 11, 2006

Serica on song at Kambuna

Independent Serica Energy has received the green light from
Indonesia's upstream regulator BP Migas for the fast-track development
of its Kambuna gas condensate field and the operator's board is
expected to soon approve the project, writes Amanda Battersby.

Kambuna, on the Glagah Kambuna technical assistance contract, will be
exploited using a dry wellhead tower and a floating production,
storage and offloading vessel with a pipeline to transport the gas to
shore in North Sumatra.

The offshore field is targeting first production in 2008 at initial
rates of 50 million cubic feet per day of gas and 5000 barrels per day
of condensate.

A 3D seismic survey is due to start in early October over Kambuna to
delineate the field's extent and to evaluate other nearby exploration
prospects.

Recoverable reserves figures of 60 billion cubic feet of gas and 24
million barrels of condensate were put forward by partners of the
former TAC operator Matrix, while West Kambuna's reserves were earlier
touted at upwards of 2 Tcf of gas and up to 200 million barrels of
liquids.

However, West Kambuna failed to flow during testing. Water depth at
the fields is 32 metres.

There is a ready market for gas in North Sumatra and Serica believes
there will be a shortfall of up to 200 MMcfd in the province by 2010.

-------------------------------------------------------------

Indonesia Plans 10.0% Coal Value Added Tax By 2007

JAKARTA, August 11 (Dow Jones)--Indonesia plans a 10% value-added 
tax on coal by Jan. 1 to replace the current export tax on the commodity,
the Finance Ministry's director of taxation counseling said Friday.

"It is being proposed to Parliament that coal should become an item
that incurs a tax of up to 10%," Erwin Silitonga told reporters. [
11-08-06 0701GMT ]

The VAT, part of a draft tax revision bill currently before
Parliament, is intended to replace the 5% export tax on coal,
Silitonga said.

"(Coal) can enter the restitution mechanism, so that when it later
reaches Customs, the (export) tax can become 0.0%," hesaid.

Indonesia already imposes a 10% VAT on several premium commodities and
manufactured products, including sales of raw cocoa to local
processors.

But coal is not included under the current tax.

Trade Minister Mari Elka Pangestu and other officials have said that
the 10% VAT on those products would likely be removed later this year.

Silitonga said that plan was still in the discussion stage, and it
wasn't known when a decision would be reached.

-----------------------------------------------------

Indonesia's Tambang batubara targets US$400 mln yr income

JAKARTA, August 11 (Asia Pulse/Antara) - State coal mining company PT
Tambang Batubara Bukit Asam (JSX:PTBA) hopes to chalk up Rp3.6
trillion (US$400 million) in income this year, up from Rp2.9 trillion
last year.

The company's target for coal sales total 10.5 million tons this year,
company secretary Milawarman said.

Milawarman said the company hopes to increase sales after it made an
agreement with railway company PT Kereta Api (KA) on coal transport.

Sales depend heavily on the efficiency of railway transport from the
mines to seaports for shipments abroad or to other areas in the
country, he said.

In 2006 the state-owned railway company is expected to transport 8.8
million tons of coal from Tanjung Enim coal mine to Tarahan and
Kertapati terminals, up from 7.9 million tons last year.

----------------------------------------------------

Vale Offers C$19.4 Billion in Cash for Canada's Inco 

by Jeb Blount in Rio de Janeiro 

Aug. 11 (Bloomberg) -- Cia. Vale do Rio Doce, the world's largest iron-ore 
producer, entered the battle for Inco Ltd., offering C$19.4 billion ($17.2 
billion) to wrest the Canadian nickel miner from two other bidders. 

Rio de Janeiro-based Vale said it plans to pay C$86 a share for Inco, the 
second-biggest nickel miner, in an all-cash offer that may trump cash-and-stock 
bids from Phelps Dodge Corp. and Teck Cominco Ltd. 

The takeover, which would be the biggest foreign acquisition ever by a 
Brazilian company, would make 64-year-old Vale the world's fourth-largest mining 
company by sales. Vale Chief Executive Officer Roger Agnelli would gain supplies 
of nickel, used to make steel rust-resistant, to deliver alongside iron ore to 
steelmaking customers such as ThyssenKrupp AG. 

``This is the best bid out there by far,'' said Ronald Mayers, who invests in 
companies involved in mergers and acquisitions for Montreal-based Desjardins 
Securities, which holds Inco shares. ``This is a winning bid, unless someone 
else comes in and does better.'' 

Vale's shares sank 2.2 percent to 42 reais in Sao Paulo today while Inco's 
shares jumped 3.5 percent to C$89.08 in Toronto, leaving them up more than 70 
percent this year. At a share price of 42.2 reais, Vale has a market value of 
112.9 billion reais ($52 billion). 

`Disciplined' 

Phoenix, Arizona-based Phelps Dodge, the world's third- largest copper 
producer, agreed on June 26 to buy Inco with cash and stock that are today worth 
C$88.53 per share. Vancouver- based Teck Cominco is offering C$86.04 is cash and 
stock per share in a hostile bid. 

Inco spokesman Bruce Drysdale and Phelps Dodge spokesman Peter Faur declined 
to comment. Teck President and Chief Executive Officer Don Lindsay said the 
company won't be ``drawn into an expensive bidding war for Inco.'' 

``We will weigh our options carefully, and remain committed to a disciplined 
approach to any transaction,'' Lindsay said in a statement released on Canada 
NewsWire. 

Losing Inco would be Phelps Dodge's second setback in less than a month, 
after Zug, Switzerland-based Xstrata Plc beat it in the battle for Canadian miner 
Falconbridge Ltd. Falconbridge's board three days ago recommended shareholders 
accept Xstrata's C$19.2 billion bid. 

Inco said in a filing with the U.S. Securities and Exchange Commission this 
week that it will owe Phelps Dodge a termination fee of $475 million should 
Inco cancel the merger or recommend another bid. 

`Full-Value' 

Mining companies are battling for natural-resource assets as China, the 
world's largest consumer of metals, drives copper nickel and zinc to record levels. 
The price of nickel, used in stainless steel production, has more than 
tripled in the past three years. 

Demand for raw materials, such as iron-ore and nickel continues to grow 
faster than mining companies can increase supply, a situation that will continue 
for many years, Agnelli said. Nickel, in particular, faces tight supply in the 
future, making it likely nickel prices will remain high and that Vale 
shareholders will benefit from an Inco purchase, he added. 

``We consider this offer a full-value offer for Inco,'' Agnelli told 
reporters at a news conference in Rio de Janeiro. ``It's high but justified.'' 

The purchase of Inco will be financed by loans from Credit Suisse, UBS AG, 
ABN Amro Holding NV and Banco Santander Central Hispano SA, Vale said in a 
statement. Stikeman Elliott LLP and Cleary, Gottlieb, Steen & Hamilton LLP are 
acting as the company's legal advisers. 

Canico Purchase 

Agnelli, 47, is seeking to expand iron-ore, aluminum and transport operations 
and add production of raw materials such as nickel, copper and coal as part 
of a $17.4 billion five-year expansion plan. Adding Inco would make Vale the 
world's biggest nickel miner by 2010. 

``They want to be up there with the big guys in Australia, along with BHP 
Billiton,'' said Anders Damgaard, who helps manage $3 billion, including Vale 
shares, at Sydinvest Asset Management in Aabenraa, Denmark. 

Last year, Vale paid C$933 million to purchase Canico Resources Corp., a 
Canadian-based mining company that owned the Onca Puma nickel mine near Vale's 
existing Amazon rainforest mines and railway. It is also developing it's own 
Vermelho nickel mine. 

Moody's 

When Vale's two Brazilian nickel mines begin operations in 2008 or 2009, the 
company will be able to produce more than 280,000 metric tons of metallic 
nickel a year, 15 percent more than Russia's OAO GMK Norilsk Nickel, currently the 
world's largest producer. 

Vale's offer is 8.8 times Inco's earnings before interest, taxes, 
depreciation and amortization, or Ebitda, based on the past four quarters. That compares 
with the 8 times Ebitda that Xstrata is paying for Toronto-based Falconbridge, 
according to data compiled by Bloomberg. 

Vale Chief Financial Officer Fabio Barbosa has set a goal of reducing Vale's 
borrowing costs to the levels of rivals such as BHP Billiton. 

While Vale's debt is rated investment grade, it still has higher borrowing 
costs than many of its peers. The company's 2016 bonds yield about 6.16 percent, 
34 basis points more than bonds of similar maturity issued by BHP Billiton. A 
basis point is 0.01 of a percentage point. 

Moody's Investors Service placed Vale's Baa1 local currency debt rating on 
review for a possible cut today after the company announced its bid for Inco. 
Moody's rates Vale's foreign debt Baa3, three levels above the Brazilian 
government. 

Melbourne-based BHP Billiton is the world's biggest mining company followed 
by London-based Anglo American Plc. and London- based Rio Tinto Group. 

------------------------------------------------------

Myanmar Signs Pact With Petronas To Do Gas Pipeline Study

YANGON, August 11 (AP)--Myanmar has signed an agreement with
Malaysia's biggest energy company to conduct a feasibility study on
refining and transporting natural gas to neighboring countries,
state-run newspapers reported Thursday.

The Energy Planning Department signed the memorandum of intent with
Malaysia's Petroliam Nasional Bhd. (PET.YY), or Petronas, Tuesday in
Myanmar's new administrative capital, Naypyidaw, reported the New
Light of Myanmar.

The newspaper said the study will look at commercial and technological
issues related to selling natural gas from Myanmar through pipelines
to neighboring countries, and the prospect of manufacturing liquefied
natural gas from existing and potential future deposits in Myanmar.

Myanmar possesses commercially viable natural gas reserves off its
western Arakan coast in the Bay of Bengal and has producing offshore
gas fields in the Gulf of Martaban. It has attracted investment from
state oil companies in neighboring India, China and Thailand and from
South Korea's Daewoo, Total S.A. (TOT) of France and Unocal Corp. of
the U.S. along with other companies from Australia, Canada and
Indonesia.

A unit of Petronas, Petronas Carigali Myanmar Inc., owns a 40.9% stake
in the Yetagun gas field in the Gulf of Martaban, which has been in
commercial production for several years.

----------------------------------------

Petromindo Headlines, 
Friday, August 11, 2006: 

Oil/Gas: 

- BPH Migas gives Pertamina 2 months 
  to decide on gas pipeline
- GE to supply gas turbines to Tunu field
- Govt formulates four measures for Lapindo's 
  mud problem
 
Mining: 

- Release: Antam monthly exploration 
  report for July 2006
- PTBA expects sales to rise 6%
- Banpu Q2 Indonesian coal sales 
  down on heavy rain
 
- No power headlines today

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Joyo Indonesia News Service
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