Oil and gas companies to spend big in 2009

Oil and gas contractors have proposed to the regulator to spend up to US$13.15 billion on investment in exploration and production in 2009.

These investment plans were submitted to BPMigas through the companies' 2009's working and budget programs, BPMigas's chairman R. Priyono told reporters and industry players Tuesday.


About $12.95 billion of the planned investment would be spent on production activities and the remaining $201.57 million on exploration, Priyono said.

Of the $12.95 billion of investment planned for production, $3.73 billion will be allocated to drilling activities in 1,237 wells, $2.85 billion for production facilities, $4.72 for operational production and US$1.64 for administration.

by : Alfian

"The proposed budget plans were submitted by 53 out of 64 contractors at the production stage. So, the (investment) figure could actually be higher," Priyono said.

The $201.57 million budget allocated for exploration will be spent mostly on geological and seismic surveys.

"Exploration activities have shown very good results this year. Thus, there will be more drilling and other activities next year," Priyono said looking at next year's business prospects as compared to this year's.

As of the end of October, oil and gas operators have spent $8.65 billion.

Roberto Lorato, President of the Indonesian Petroleum Association (IPA), said that next year's investment target was still logical.

"The plan is quite challenging as the oil price is declining, but I think it is still possible," he said.

BPMigas estimated oil lifting achieved until the end of this year would be 988,060 barrels oil per day (bopd), higher than the initial target of 977,000 bopd.

Priyono said that average oil production in 2008 was 978,000 bopd, adding that production is targeted to average 960,000 bopd next year.

Priyono said the declining oil production of PT Chevron Pacific Indonesia, a local subsidiary of the second largest oil company in the U.S., would lower Indonesia's total oil production next year.

"Chevron's production is declining due to aging fields. As the company output is very big, about 400,000 bopd, the decline is difficult to set off against finding new fields," Priyono said.

Chevron earlier said its Duri and Minas concession in Sumatra might only produce 405,000 bopd this year, down from the 408,000 bopd target set by the government and from the 425,000 bopd pumped last year.

BPMigas said nine oil and gas fields with a total capacity of 5,336 bopd and 521 million cubic feet per day of gas (MMSCFD) would come onstream next year.

source : http://www.thejakartapost.com/

Apexindo still getting contracts

Publicly listed PT Apexindo Pratama Duta, the biggest oil and gas services company in Southeast Asia, said Tuesday it would remain upbeat about next year's prospects as contracts keep coming in despite the tough global economic environment.

"We aim to secure contracts with big oil and gas companies which have large reserves," said Apexindo president director Hertriono Kartowisastro.

For 2009, the company has so far secured US$279 million in contracts, including a 2-year contract with Chevron worth $32.6 million, a $43.9 million contract with Total E&P Indonesia and $26.9 million contract with Vico.

"We are now working to secure another contract from Total E&P Indonesia in Tunu, East Kalimantan," Hertriono added.

In the first nine months of 2008, Apexindo generated $182.5 million in revenue and managed to book $96.8 million in EBITDA -- or earnings before interest, taxes, depreciation and amortization.

"We expect to get $30-$40 million in net profits this year. We forecast our net profit will rise to $55 millions next year," vice president Tito Sulistio said.

Currently, the company operates eight on-shore rigs, six off-shore rigs and an FPSO (floating production storage and offloading facility), which is expected to start to contribute to revenue next year.

Apexindo's total capitalization, as of Nov. 4, was estimated at $680 million.

Tito, however, said the company had no plan to invest in more rigs next year and would only spend no more than $20 million on capital expenditure, mostly for maintenance.

On Nov. 14, local tracking company PT Mitra Rajasa bought 98.14 percent of the company's shares for $500 million.

Before the sale, Apexindo was 48.87 percent owned by the country's second largest oil producer PT Medco Energi International, 31.7 percent by Encore International Ltd, and the remainder by the Panigoro family and the public.

The acquisition of Apexindo has contributed to the increase in Mitra Rajasa's net profits by a multiple of 35 times from Rp 1.6 billion ($146,205) in the January-September period last year to Rp 58.4 billion during the same period this year. -- JP/hwa

source : http://www.thejakartapost.com/

Ask the vice president Employers No to Foreign Vacation

by : ALIF Ichwan

Vice President Jusuf Kalla (two from right) accompanied (from left right) Deputy leader General Daily Kompas Agung Adiprasetyo, Ambassador of Japan to the Philippines Kojiro Shiojiri and President of Indonesia-Japan Friendship Concourse Rachmat Gobel, after reviewing stand in the Kompas Daily Arena Pekan Raya Jakarta, Kemayoran, Jakarta, Sunday (9 / 11).
Tickets for the new Holiday Christmas and New Year Ludes Sold / KompasTV
Related Articles:

* Face the crisis, Kadin Ask 9 Recommendations
* Kadin: Hadapi crisis, strengthen Domestic Market
* Ask Kadin "Sunset Policy" Extended
* Finance minister: Get Help My supervising goods and illegal charges, or bribes
* Kadin wedged Government Lower Premium Rates Again

Tuesday, 23 December 2008 | 08:09 WIB

JAKARTA, first - Vice President Jusuf Kalla said, consensus national Chamber of Commerce and Industry General Assembly of Indonesia is not the most exciting in history. The Candidate short time and only one, namely S Mohamad Hidayat.

"For me, there may be two reasons why. Hidayat able to work great, so there is no competed. Or, there is no longer Kadin cadres who want to work in the current difficult period. Of course, only Golkar cadres who want to work hard, "said the vice president in the agreement to the National V-Kadin Indonesia is titled," Building the Regional Economic Resurrection for National Economy ", on Monday (22/12) in Jakarta.

In the General Assembly this time, the Chairman of the General Mohamad Hidayat S again selected by acclamation to lead Indonesia Kadin period 2008-2013. The vice president said, to the front, the economic foundation must be completed properly. State run better if the food staple of this nation secure.

Second, the provision of infrastructure facilities. Electricity, for example. Nations that want to develop industrialization necessarily require electricity.

Guarantee blanket on the demand who was businessman, the vice president emphasized, "No! We experienced during the crisis. Victims the government. Only a handful of people act, the people must be the responsibility of the consequences. "

In the occasion, Jusuf Kalla challenging entrepreneurs to prove themselves as businessmen who can precede national interest. Currently the national market increased need more hard again. Therefore, the vice president asks all parties to demonstrate a sense of national interest, starting with a simple way. "But again, we will go to the end of year holidays. Employers do not have a vacation abroad, "said the vice president Jusuf Kalla.

Second challenge is the use of the product in the country. Shoes have now become a national symbol, his case without throwing shoes to United States President George W Bush. Shoes become a symbol of nationalism "great". "Sorry, I still wear brand Bally shoes, but before the General Assembly to come to this, I have to ask his wife to buy shoes in the country," he said.

Need spirit

Remind the vice president, this nation needs to go forward spiritually. KADIN expected to be one in the same boat together to overcome the crisis.

The Board of formatur General Assembly Kadin selected to work a maximum of one month to help determine the general chairman of the Board of Managers Kadin Daily Indonesia for five years.

Formatur of the Board consists of Tonny Ulolli (representative of eastern Indonesia), Adi Putra Tahir (Indonesia middle), Firmandes (western Indonesia), and Suharsoyo (representative of the Association of Industry and Services).

Chairman of the Steering Commitee General Assembly to the V-Kadin Sandiaga S Uno said, "this period, Kadin General Assembly that has only one candidate. This means not Kadin lack of cadres, but is a form of kesolidan business in selecting their leaders. "

source : http://kompas.com

Zoellick Appoints New General Counsel and Senior Vice President

Press Release No:2009/193/EXC

Contacts:

In Washington:

Carl Hanlon

(202) 473-8087

chanlon@worldbank.org

WASHINGTON, December 22, 2008 - World Bank Group President, Robert B. Zoellick, today announced the appointment of a French lawyer and former judge as the group’s Senior Vice President and General Counsel.



Anne-Marie Leroy, who has been a partner in charge of the Department of Public Law at the Paris office of Denton Wilde Sapte LLP since 2005, will take up the post in March next year.

“The position of General Counsel is a critical one for our institution, “Zoellick said.

“Anne-Marie Leroy brings a powerful set of skills to this important task from a rich background in government, the private sector, development, and international institutions. “

Zoellick said the General Counsel not only oversees the Bank’s Legal Vice-Presidency, but also needs to provide “the intellectual leadership and creativity in devising innovative solutions to enable the World Bank to meet its many developmental objectives and challenges in a rapidly changing environment within the framework of the Bank Group’s Articles and policies.”

A graduate of both the Paris Institute for Political Sciences in law and economics, and the National School for Public Administration (ENA), with a graduate degree in the Sociology of Organizations, Anne-Marie Leroy joined the Council of State (Conseil d'Etat) in 1986, the highest court in France for public and administrative law, where she worked as a judge for five years.

In 1991, she was appointed to the Ministry of National Education, as a director of legal and international affairs. Her work included technical assistance projects in developing countries, as well as in multilateral institutions, especially the EU and the Organisation for Economic Co-operation and Development (OECD). From January 1995 to May 1998, she served in the World Bank’s Middle East and North Africa region as a senior public sector specialist, working on public management issues in Lebanon, Morocco and Tunisia.

Returning to Paris in 1998 to take up the position of Department Head in charge of Governance and Civil Society issues in the Public Management Service of the OECD, she was appointed as Senior Advisor to the Prime Minister, Lionel Jospin, in charge of government reform.

After the presidential election of 2002, she returned to the Council of State and her role as a judge, at the same time actively taking part in the drafting of a Conseil d’Etat report published in early 2003, proposing a major reform of the French civil service that is to be implemented by the current government. In 2003, she was also appointed by the Board of Executive Directors of the Inter-American Development Bank as a judge with the IDB's Administrative Tribunal.

source : http://web.worldbank.org/

World Bank President Arrives In Jakarta On Second Leg Of Indonesia Visit

JAKARTA, 10 April 2005 – World Bank President Paul Wolfowitz arrived in Jakarta today on the second leg of his six-day visit to Indonesia. Wolfowitz began his visit to Indonesia on April 5, in Aceh, to underline his deep commitment to the reconstruction program, with support for the peace process as the basis for all development. The President also visited World Bank and IFC supported projects in South Sulawesi before leaving for Timor-Leste on April 8.

Arriving at Jakarta’s Halim Perdanakusuma Airport this evening for what he called a “pulang kampung” or “coming home” visit, the former envoy and longtime friend of Indonesia said, “I am very happy to be back, I really love this country.” He impressed local media when he addressed them directly in Bahasa. He was “pleasantly surprised at the considerable progress the country had made since the economic problems of 1998.” Wolfowitz said “I am here to learn more about it.”

President Wolfowitz cautioned, however, that “Indonesia still has many poor people and a lot of work needs to be done.” The issue of poverty reduction will be at the heart of the discussion when Wolfowitz meets with the Indonesian President, the Vice-President and members of his cabinet on Tuesday, April 11.

The President also highlighted the Bank's role in helping Indonesians in their fight with Avian Influenza, noting that US$1.9 billion had been committed in Beijing to help countries like Indonesia fight the virus.

Tomorrow the President will visit Tangerang to meet with poultry farmers and other residents who live in areas that are particularly vulnerable. The World Bank in Indonesia has already provided US$ 200,000 to the National Committee on Avian Influenza Control and Pandemic Influenza Preparedness, and $130,000 to study options to restructure the poultry farming and marketing systems to reduce disease risks.

The President will also take part in a televised seminar on Democracy, Governance and Development hosted by Tempo magazine the same day. The following day he will visit the Office of the Anti-Corruption Commission to launch a major new effort to combat corruption in Bank-assisted projects.

Source by:http://web.worldbank.org

LYCOPENE - The Ultimate Phytochemical Nutraceutical?

By : by John C. Leffingwell, Ph.D.

Lycopene, a carotenoid found in tomato products, prevents oxidation of low density lipoprotein (LDL) cholesterol and reduces the risk of developing atherosclerosis and coronary heart disease according to a recent study published in the October 1998 issue of Lipids (Agarwal, S., and Rao A.V.; Tomato lycopene and low-density lipoprotein oxidation: a human dietary intervention study. Lipids, 33, 981-984 (1998). This study showed that daily consumption of tomato products providing at least 40 mg of lycopene was enough to substantially reduce low density lipoprotein (LDL) oxidation. High LDL oxidation is associated with increased risk of atherosclerosis and coronary heart disease. This lycopene level can be achieved by drinking just two glasses of tomato juice a day. Research shows that lycopene in tomatoes can be absorbed more efficiently by the body if processed into tomato juice, sauce, paste and ketchup. The bound chemical form of lycopene found in tomatoes is converted by the temperature changes involved in processing to make it more easily absorbed by the body. Ongoing research suggests that lycopene can reduce the risk of prostate cancer and cancers of the lung, bladder, cervix and skin.

Recent Lycopene Studies

At the American Association for Cancer Research meeting held April 12, 1999 in Philadelphia, Dr. Omar Kucuk of Karmanos Cancer Institute in Detroit reported a study involving 33 men who were randomly assigned to take lycopene or nothing for 30 days before their prostate operations. Before surgery, the volunteers showed no obvious signs that their cancer had spread. After surgery, the doctors found that cancer tissue was less likely to extend clear to the edges of the lycopene users' prostate glands. And pre-cancerous cells in their prostates were less abnormal-looking.

Kucuk warned that his study is small, and cautioned against routine use of lycopene supplements without further evidence.

One of the most influential pieces of research on tomatoes and cancer was a large Harvard study released in 1995. It followed the eating habits of 47,000 men for six years. Those who had at least 10 weekly servings of tomato-based foods were up to 45 percent less likely to develop prostate cancer. In an analysis published (J Natl Cancer Inst 1999 Feb 17;91(4):317-31 ), Edward Giovannucci of Harvard Medical School reviewed 72 studies that looked for a link between cancer risk and food made with tomatoes. In all, 57 linked tomato intake with a reduced risk, and in 35 of these, the association was strong enough to be considered statistically meaningful.

Furthermore, Riso and co-workers at the University of Milan in Italy have concluded that the consumption of tomato products may reduce the susceptibility of lymphocyte DNA to oxidative damage (Am J Clin Nutr 1999 Apr;69(4):712-8 ).

Suganuma and Inakuma of the Research Institute, Kagome Co. Ltd., Tochigi, Japan studied the effects of dietary ingestion of tomato in mice that had been made hypercholesterolemic. The results indicate that tomato has a preventive effect on atherosclerosis by protecting plasma lipids from oxidation (Biosci Biotechnol Biochem 1999 Jan;63(1):78-82 ).



In contrast to the rather "extended" claims made for many nutriceutical and herbal products, it appears that lycopene is certainly a truly phenomenal material. And one that is available to anyone that wants it - and for a price that is affordable to nearly everyone. In fact, the table below as summarized by Nguyen and Schwartz [in Lyopene: Chemical and biological properties. Food Technol., 53(2): 38- 45 (1999)] shows that just drinking 3 8-oz glasses of a processed vegetable juice such as V-8(R) will provide in excess of the 40 mg per day of lycopene suggested for reducing LDL cholesterol.

source: http://www.leffingwell.com/lycopene.htm