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.
  

