Malaysian oil, gas and petrochemical company I&W Petroleum & Synergy Sdn Bhd will take part in an oil exploration activity in East Kalimantan, an executive said here on Wednesday.

The Malaysian firm will carry out the exploration activities together with its Indonesian partner PT Sapta Rajasa Kapital (SRK) on an area of 10,000 hectares, SRK President Director Ferry H
Wijaya said.

He said that the two firms would also build a bunker service on a 100-hectare area of land, adding that the explorations would be conducted this month after a principle lincense had been issued by Kutai Timor regional government.

Ferry said he was proud to be able to partner with the Malaysian company because it had won the Malaysian government’s trust to finance the Malaysian Design-9 (RMK-9) project.

He said that the RMK-9 was a Malaysian government’s program to develop a US$500 billion development project.

According to Ferry, I&W Petroleum & Synergy Sdn Bhd also had a global funding program which could attract foreign investors into Indonesia.

SRK Chief Commissioner explained meawhile that the Malaysian company in its Global Project Funding had already opened branches in five countries, namely Australia, Russia, China, Hong Kong and the United States.