JAKARTA, March 6 (RIA Novosti) - Russia's Petros
company and Indonesia's Nuansa Group have signed a memorandum
on joint implementation of Russian technologies in the
development of abandoned oil fields in Indonesia.
"There are many oil fields in Indonesia whose exploration
has been abandoned for various reasons. We need new
technologies to continue their development, and we are glad
that we can now use Russian technologies," Nuansa Group
president Susanto Suparso said at the signing ceremony late on
Thursday.
Petros company was established in 1991 on the basis of a
research institute in Moscow, and specializes in the
development of technologies allowing more efficient oil
extraction.
"Technologies for the development of abandoned oil wells
that the Russian company is offering to our Indonesian partners
are very effective from an ecological standpoint, and more
cost-efficient than those offered by Western firms," said
Alexander Ivanov, Russian ambassador to Indonesia.
The Russian firm plans to initially implement its
technologies at abandoned oil deposits in East Kalimantan on
the Island of Borneo, and in central parts of the Java Island.
According to the Oil & Gas Journal, Indonesia's proven oil
reserves amounted to 4.3 billion barrels in January 2007.
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