"The central government has approved the company"s contract. The company will conduct oil and gas explorations early October 2007," head of the West Sulawesi provincial energy and mineral resources office Halim Hayade said in the province.

Hayade, who was quoted by Antara News Agency, said that Conoco Philips had set aside 200 billion rupiah (some 20 million U.S. dollars) funds for the activity.

Earlier, three companies expressed interest in exploring oil and gas in West Sulawesi. They are Taleti NV which will explore oil and gas in Budong-Budong Block, Exxon Mobile in Suruma Block and PT Marathon and Gemmatera in Pasangkayu Block.

PIN/People.Com.Cn