Jatoil plans first commercial oil production this year

Jatoil plans to produce its first commercial quantities of crude jatropha oil in 2010, a year ahead of previous expectations, after signing binding agreements to set up a new joint venture company in Indonesia. The agreements provide for the acquisition of existing jatropha crops in central Java. The central Java project is owned through a subsidiary called PT Jatoil Waterland. Waterland International is a Dutch/Indonesian consortium that has developed extensive jatropha operations in central Java to supply European markets. The project involves Jatoil injecting up to US$600,000 for a 70% stake in a joint venture which covers 2,000 hectares of land in central Java. (February 08, 2010)