Kuwait to explore oil in Seram

The Kuwait government is ready to start the oil exploration project in the Seram Island in Maluku province, which is expected to initially cost some US$30 million, according to the Bisnis Indonesia daily.

The paper said that the exploration cost will increase to $170 million in three years.

Several Kuwait senior economic ministers accompanied by Indonesia's foreign minister Alwi Shihab reported the plans on Wednesday to President Abdurrahman Wahid.

Alwi said that the exploration cost did not included the investment cost. (*)