BP to Invest US$11 Billion in Tangguh, Deliver Train 3 PoD Tomorrow
JAKARTA, Indonesia Today - British Petroleum (BP) Plc plans to invest US$11 billion for Tangguh LNG Block and will deliver…
BP to Sign Domestic Gas Supply Contract Tomorrow
JAKARTA, Indonesia Today - BP Plc is going to sign Memorandum of Understanding (MoU) with Indonesian Government for 230 million…
Govt to Issue Contract Renewal Regulation for Oil & Gas Blocks This Year
JAKARTA, Indonesia Today - Ministry Regulation about Contract Renewal for Oil & Gas Blocks is scheduled to be issued this…
Oil Price Approaches $90, Coal Stocks Tumbled
JAKARTA, Indonesia Today - Coal stocks at the Indonesia Stock Exchange (IDX) tumbled this afternoon (May 23) along with the…
Kalbe Farma to Pay Dividend Rp891 Billion
JAKARTA, Indonesia Today - Pharmaceutical giant PT Kalbe Farma Tbk (KLBF) will pay dividend of Rp891 billion, or Rp95 per…
JAKARTA, Indonesia Today - PT Bank Syariah Mandiri (BSM) posted net profit of Rp192.72 billion in the first quarter (Q1)…
Oil Stays Below $92, Coal Shares Lost Steam
JAKARTA, Indonesia Today - Coal-related shares retreated in the region this morning, after substantial rebound on Tuesday, as Nymex crude…
CPO Slips, Dragging Down Plantation Shares
JAKARTA, Indonesia Today - Plantation shares slip again in the region this morning to tracking the downfall of crude palm…
Royal Oak Seeking Rp500 Billion Loan
JAKARTA, Indonesia Today - PT Royal Oak Development Asia Tbk (RODA) is now seeking bank loan amounting Rp500 billion for…
Banyu Urip Field Starts Oil Production in May 2014
JAKARTA, Indonesia Today - The Upstream Oil and Gas Regulatory Body (BPMIGAS) is confident that Banyu Urip project in the…
ENRG's Tonga Block Commences Oil Production
JAKARTA, Indonesia Today - Tonga block PSC, controlled by Energi Mega Persada (ENRG), has commenced oil production at capacity of…
Energi Mineral Langgeng Urged to Stop Exploration in Tanjung Village
SUMENEP, Indonesia Today - Hundreds of Sumenep residents, East Java force PT Energi Mineral Langgeng (EML) to stop its exploration…
Latest News
Bumi Plc Falls 8%, Bayan Lost 7%LONDON, Indonesia Today - Bumi Plc, controlled by Bakrie Group, Samin Tan, and Nathaniel Rothschild, retreated 8% in the opening ho... Stocks | Wednesday, 23 May 2012 Read more |
Wa Ode Promises to Reveal the “Budget Game” in TrialJAKARTA, Indonesia Today - Wa Ode Nurhayati, member of the House Budget Body (Banggar) from National Mandate Party (PAN) and gr... Corruption | Wednesday, 23 May 2012 Read more |
Java Island Plotted as Main Electricity Storage for IndonesiaJAKARTA, Indonesia Today - President Director of PT PLN Nur Pamudji proposes to establish Java as the main electricity storage in... Energy | Wednesday, 23 May 2012 Read more |
Pyridam Seeks 12% Growth This YearJAKARTA, Indonesia Today - Pharmaceutical company PT Pyridam Farma (PYFA) Tbk plans to boost production and launch new products in ... Pharmaceuticals | Wednesday, 23 May 2012 Read more |
Sukhoi Victims’ Bodies Returned to Families, Insurance Payment Not Clear YetJAKARTA, Indonesia Today – The remains of all 45 victims of the crash Sukhoi Superjet 100 have been handed over to... People | Wednesday, 23 May 2012 Read more |
Bank Papua Q1 Profit Rp101.79 BillionJAKARTA, Indonesia Today - PT Bank Pembangunan Daerah Papua (Bank Papua) booked profit after tax of Rp101.79 billion in the ... Banking | Wednesday, 23 May 2012 Read more |
Naga Selatan-1 Drilling Reaches 84% Total DepthMELBOURNE, Indonesia Today - Cue Energy Resources Ltd says the drilling in the Naga Selatan-1, East Kalimantan well has reached 84... Energy | Wednesday, 23 May 2012 Read more |
SGX offers MSCI Indonesia Futures from 11 JuneSINGAPORE, Indonesia Today - Singapore Exchange’s (SGX) MSCI Indonesia Index Futures will begin trading from 11 June ... Stocks | Tuesday, 22 May 2012 Read more |
Bank Permata Sets Bond Coupon at 8.5-9.5%JAKARTA, Indonesia Today - PT Bank Permata Tbk (BNLI) has set indicative coupon of between 8.50% to 9.50% for its ... Bonds | Tuesday, 22 May 2012 Read more |
Three Trucks of PTPN II Burnt Down Following Clash with Local PeopleDELI SERDANG, Indonesia Today - Local people have burnt down three unit trucks of State plantation company PT Perkebunan Nusantara ... Dispute | Tuesday, 22 May 2012 Read more |
Multipolar Controls 10.59% Stake in Bank NobuJAKARTA, Indonesia Today - Lippo Group’s service and trading company, PT Multipolar Tbk (MLPL) invests Rp43.73 billion in PT Nationalnobu ... Banking | Tuesday, 22 May 2012 Read more |
IDX Gains 1.19% on Regional and Wall Street ReboundsJAKARTA, Indonesia Today - Composite index of the Indonesia Stock Exchange (IDX) gained 1.19% to 3,986.90 this morning following the re... Stocks | Tuesday, 22 May 2012 Read more |
Fitch Affirms Bank Riau Kepri at 'A(idn)'JAKARTA, Indonesia Today - Fitch Ratings has affirmed PT Bank Pembangunan Daerah Riau Kepri's (Bank Riau Kepri) National Long-Term Rating at... Banking | Monday, 21 May 2012 Read more |
Fitch Upgrades BPD Maluku to 'A(idn)'JAKARTA, Indonesia Today - Fitch Ratings has today upgraded PT Bank Pembangunan Daerah Maluku's (Bank Maluku) National Long-Term Rating and se... Banking | Monday, 21 May 2012 Read more |
Astra Sedaya Financing Likely to Go Up to $200 MillionJAKARTA, Indonesia Today - The US$120 million three-year term loan for Astra Sedaya Finance is oversubscribed and may be increased to... Banking | Monday, 21 May 2012 Read more |
Templeton's Investment in Indonesia Declines to 5% in AprilFLORIDA, Indonesia Today - Templeton Global Income Fund invested 5% of its total net assets in Indonesia as of April 30... Stocks | Monday, 21 May 2012 Read more |
Pratt & Whitney Canada Signs 5-Year Service Agreement with Pacific Royale AirwaysMINNESOTA, Indonesia Today - Pratt & Whitney Canada SEA (P&WC SEA), located in Singapore, has signed a five-year Maintenance, Repair an... Transportation | Monday, 21 May 2012 Read more |
Nomura Research Establishes Representative Office in JakartaTOKYO, Indonesia Today - Nomura Research Institute Ltd. (NRI), a leading provider of consulting services and system solutions, today announces th... Internet | Monday, 21 May 2012 Read more |
Omedia Again Extends Megapower AcquisitionKUALA LUMPUR, Indonesia Today - Oriented Media Group Berhad (Omedia) extends its proposed acquisition of 85% equity interest in PT Me... Energy | Monday, 21 May 2012 Read more |
Interra's Goldpetrol Commences Drilling in MyanmarSINGAPORE, Indonesia Today - Interra Resources Limited, a company controlled by Indonesian tycoon Edwin Soeryadjaya, announces today that its jointly co... Energy | Monday, 21 May 2012 Read more |
JSW Steel Production Grows 10% in AprilSINGAPORE, Indonesia Today - JSW Steel Limited reported monthly crude steel production of 7.15 lacs tons for April 2012, with a ... Steel | Monday, 21 May 2012 Read more |
Tunas Ridean to Acquire Izusu DistributorJAKARTA, Indonesia Today - Car distributor and dealer PT Tunas Ridean Tbk (TURI) and its unit PT Tunas Mobilindo Parama pl... Automotive | Monday, 21 May 2012 Read more |
Surya Toto to Build Sanitary Factory This YearJAKARTA, Indonesia Today - Sanitary and plumbing company PT Surya Toto Indonesia Tbk (TOTO) intends to build new sanitary factory in... Stocks | Monday, 21 May 2012 Read more |
Zebra NUsantara to Acquire CNG DistributorJAKARTA, Indonesia Today - Transportation company PT Zebra Nusantara Tbk (ZBRA) plans to acquire a company, distributor of compressed natural gas... Transportation | Monday, 21 May 2012 Read more |
Resources Photo
Theindonesiatoday.com - Marathon Oil Corporation told investors that the Romeo well in the Pasangkayu block, offshore Indonesia, was determined to be dry.
"For Romeo, the reservoir's thickness and quality confirmed pre-drill geologic models, but the well was determined to be dry," Marathon said in its first quarter report.
Marathon Oil Corporation reported earlier that its exploration expenses increased $72 million in the fourth quarter of 2010 compared to the same period in 2009 due to the dry hole for the Bravo-1 well in Sulawesi, Indonesia.
"Exploration expenses were $216 million for the fourth quarter of 2010 and $498 million for the entire year, compared to $126 million in the fourth quarter of 2009 and $307 million for full-year 2009. The full-year increase was the result of dry holes in Indonesia and the Gulf of Mexico," Marathon said in its fourth quarter review.
Marathon said earlier that it intends to record a dry hole expense of approximately US$60 million for the Bravo-1 well in the fourth quarter of 2010. Bravo-1 is located in the northeastern portion of the Pasangkayu PSC area offshore Sulawesi Island in the Makassar Strait.
Marathon International Petroleum Indonesia is operator in the block and holds a 70% working interest in the Bravo-1 well. Talisman Energy is a partner in the block. (ferdi@theindonesiatoday.com)
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