UAE's state oil company wants to invest in Indonesia

Emirates General Petroleum Corporation, the United Arab Emirates' (UAE) state oil company, plans to invest in the integrated economic development zone of the Indonesian region of Sabang, Indonesian news agency ANTARA said, quoting a local official.

"Emarat wants to invest in the zone if it can get local partners," T. Hamid, acting head of the Sabang Kapet Authority, told ANTARA in Banda Aceh Wednesday.

He said Emarat's intention was revealed by its representatives at a meeting with Indonesian officials in Dubai last month.

The UAE company also wanted to conduct a feasibility study to build a bunkering port in the Sabang Kapet area which would at the same time serve as a transit point for Middle East crude oil before being distributed in the Asian region, Hamid said.