Government to Act as Collateral?

The government is asked to stand guarantee for an oil drilling project in West Seno. Why on earth should a foreign private debt be guaranteed by the government?

October 1, 2002

Although the temperature was around 30 degrees Celsius, hundreds of invitees seemed to be enjoying themselves. In early September, at the official launching cerem-ony of a Unocal (California-based oil company) production unit, the guests heard a bit of good news: funds are readily available for the West Seno I and II off-shore oil drilling projects at Makassar Strait. Overseas Private Insurance Corporation (OPIC), an American company, will be

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