Newly merged Amoco-Arco to continue investment in RI

The newly merged oil and gas giant BP Amoco-Arco vows to continue its investment plans in Indonesia's oil and gas sector, according to BP Amoco new resident manager Bill Schrader.

"The new company is created on the basis of Arco's success in the Indonesian oil and gas sector and the global leadership of BP Amoco in this industry ? We want to maintain our partnership commitment with Indonesia," Schrader was quoted as saying by the Suara Karya daily.

Schrader said that BP Amoco was committed to continue the Tangguh natural gas project in the Papua province (Irian Jaya).

He said that the investment environment in the Indonesian oil and gas sector was promising particularly with the improving political condition and the government commitment to create a clean and transparent administration.

BP Amoco and Arco officially merged on Tuesday. (*)