INDONESIA OIL CONTRACT NEGOTIATIONS END THIS MONTH
Negotiations between Indonesia's state
oil company Pertamina and foreign oil contractors on extension
of the standard 30-year production sharing contract will be
concluded by the end of this month, a Pertamina official said.
    Jumardi Jukardi, head of Pertamina's foreign contractors
coordinating board, gave no details about the outcome of the
talks.
    But Pertamina President Abdul Rachman Ramly has said
priority will be given to extending contracts for companies
whose exploration and production contracts expire within the
next seven to 10 years.
    Jukardi, speaking to Indonesian reporters, said the
negotiations would determine whether the 85-15 production
sharing split in favour of Pertamina would be adhered to or
altered in some cases as oil companies are asking for.
    Hardjoko Seputro, spokesman for the Mines and Energy
Ministry, has said that President Suharto has agreed in
principle to extension of the standard 30-year production
sharing contract to reflect better current depressed conditions
on the international oil market.
 REUTER
