ConocoPhilips has decided to develop...
ConocoPhilips has decided to develop an offshore oil field capable of producing 50,000 bpd in the South China Sea.
Indonesia's Energy and Mineral Resource Minister Purnomo Yusgiantoro said leaders of ConocoPhilips told President Megawati Soekarnoputri in a meeting on Monday they will soon develop the Belanak oil field.
Purnomo said the oil contractor is also interested in taking part in development of gas projects in South Sumatra to be supplied to Java through pipelines.
ConocoPhilips also promised to start development of a gas block in Aceh, but development of the block will take one or two years.
The parliament has urged ConocoPhilips to immediately start development of the gas block to cope with shortage in gas supply that caused suspension of the operations of two fertilizer plants in Aceh.
