Oil majors praise Indonesia's new investment tack
Jakarta focuses on bureaucracy, problem areas
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Jakarta
EFFORTS by Indonesia's new administration to attract investment to the country's troubled energy sector are being viewed favourably by energy giants Exxon Mobil and Chevron.
Graft and regulatory, legal and contractual uncertainties have undermined energy investment in South-east Asia's biggest economy. Ageing oil wells and a lack of exploration have led to declining output and the former Opec member is now a major fuel importer with soaring energy demands.
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