Company plans another $400 million of investment in gas project...
BP Indonesia plans to invest another US$400 million to develop a gas field in Kangean, East Java.
To do so, the company will need an extension of its current contract, Bill Schrader, the president of the British company said.
BP's contract for the Kangean gas field will end in 2010. BP proposed an extension until 2025.
Schrader said BP wants political support from legislators.
A leading legislator Saul de Ornay said the commission favors an extension of the contract to better guarantee gas supplies to industrial units in East Java.
A shortage has been reported in gas supply in East Java, which has affected the production process in a number of industries in that province.
