Oil and Gas are Weak, Government Urged to Revise Oil and Gas Law

By : Ahmad Fadli Dan Aldo Bella Putra | Tuesday, October 03 2017 - 20:20 IWST

Gedung SKK Migas (en.tempo.co)
Gedung SKK Migas (en.tempo.co)

INDUSTRY.co.id - Jakarta - The condition of oil and gas business in Indonesia is currently considered not support the investment climate. The Factor, because of the legal uncertainty contained in the Oil and Gas Act (Oil and Gas) itself. On that basis, the Special Forces Working Unit (SKK) of Oil and Gas urges the Government to immediately revise the Oil and Gas Law to revolutionize the industry's governance in the country.

"Until now there are no signs of clarity on the government's stance on the revision of the law," said SKK Migas Workers Union Executive Bambang Dwi Djanuarto, in an email received by the editors, Tuesday (3/10).

According to Bambang, investment in oil and gas industry in Indonesia in the period of two to three years has decreased considerably. This is evident from the interest of investors to participate in the auction of working area in Indonesia which is still very minimal.

"Therefore, we hope that the Minister of Energy and Mineral Resources can quickly formulate a revision of the Oil and Gas Law and this revision is important to provide legal certainty for foreign investors to invest in the oil and gas sector in the country," he said.

Meanwhile, Chairman of Jakarta Journalists Forum, Ahmad Yuslizar urged that the government and the House of Representatives immediately sit at the table to finalize the revision of the Oil and Gas Law. Therefore, Oil and Gas Law No. 22 of 2001 is no longer relevant to the current conditions.

"The new oil and gas law is expected to solve the problems in the downstream sector. We also hope that in the Oil and Gas Law will be accommodated with the latest energy problems, solar energy and so on, '' he said.

News Comment

Today's Industry

SUNeVision Initiates MEGA IDC Phase Two Development

Jumat, 28 Maret 2025 - 22:21 WIB

SUNeVision Initiates MEGA IDC Phase Two Development

SUNeVision, the technology arm of Sun Hung Kai Properties (SHKP), today announced the commencement of construction for Phase Two of MEGA IDC in Tseung Kwan O. As Hong Kong's largest data centre…

 PT Metrodata Electronics Tbk (“MTDL”)

Jumat, 28 Maret 2025 - 22:07 WIB

TDL Records New Revenue Record of IDR 25 Trillion in 2024 Ahead of 50th Anniversary

PT Metrodata Electronics Tbk (MTDL), the largest technology Company with the most complete IT and telecommunications products in Indonesia, managed to record a revenue of IDR 25 trillion in…

Wireless Logic

Jumat, 28 Maret 2025 - 22:00 WIB

Wireless Logic Selected By Thales As IoT Connectivity Partner

Wireless Logic, a global leader in IoT connectivity solutions has been selected by Thales, a global leader in advanced eSIM technologies, to enable secure, scalable and resilient IoT connectivity…

Microvista Expands International Presence with Mobile CT System ScanExpress

Jumat, 28 Maret 2025 - 21:53 WIB

Microvista Expands International Presence with Mobile CT System ScanExpress

The German specialist in industrial computed tomography and non-destructive testing, Microvista, announces the European expansion of its innovative mobile CT system, ScanExpress. The system…

Pekerja Industri Tekstil

Jumat, 28 Maret 2025 - 21:44 WIB

Turning Loss into Profit, INOV Optimistic in Maintaining Positive Performance this Year

PT Inocycle Technology Group Tbk (INOV:IJ) Indonesia's leading and largest PET waste recycling Company managed to book sales of IDR 629 Billion in 2024, an increase of 4.8% compared to the previous…