Indonesia oil and gas laws and regulations
Laws and Regulations. Indonesian law stipulates by law that the extraction of the nation’s oil and gas resources must be done in a manner that produces the maximum benefit and income for the state, and contributes to the greatest prosperity of the people. To this end, the Indonesian Government developed the Indonesian Production Sharing Contract The oil and gas sector in Indonesia is mainly regulated by Law No. 22 of 2001 regarding Oil and Natural Gas (the Oil and Gas Law). Upstream business activities are further regulated by Government Regulation No. 35 of 2004, as amended several times, lastly by Government Regulation No. 55 of 2009 regarding Upstream Oil and Natural Gas Business Activities (GR 35). Laws & Regulations on Oil and Gas Article 33 of the Indonesian Constitution which states that all natural resources must be used for the welfare and benefit of the Indonesian people. This translates into the government taking a stake in all oil and gas related activities through Production Sharing Contracts. Indonesia has struggled to revamp its last set of oil and gas laws passed in 2001 and a parliamentary committee finally proposed a new law to the full body in December. Issues surrounding the oil and gas sector have long been a source of tension with foreign investors,
25 Oct 2019 In 2017, Indonesian President Joko 'Jokowi' Widodo issued a regulation classifying a number of upstream oil and gas projects as national
8 of 2017 (the “Gross-Split PSC Regulation”). It is perhaps the most significant regulatory development in the history of Indonesia's oil and gas sector since Law 9 Mar 2018 The government regulation on gross-split production-sharing contracts, GR No. 53/2017, was signed by President Joko Widodo on December Unfortunately regulation oil and gas under the constitution that Law. No. 22 of 2001 on Oil and Gas derogate meaning of such authorization. Law quo becomes regulation of the Minister of energy and Mineral resources Number 8 of 2017 on Gross Split Production. Sharing Contracts (“regulation 8/2017”) sets out a new. Further provisions concerning the oil and gas fund referred to Article 54 and Article 55 will be stipulated in the Government Regulation. Resources ( Directorate
Further provisions concerning the oil and gas fund referred to Article 54 and Article 55 will be stipulated in the Government Regulation. Resources ( Directorate
Indonesia's crude oil output has been declining for years, from a peak of more than 1.5 million barrels per day (bpd) in the mid-1990s to below 800,000 bpd now as key fields run dry. Oil output in 2019 was 3.7% below target while gas output dropped 15.2% below target due to field curtailments, pipe leaks and dozens of unplanned field shutdowns, according to SKK Migas.
6 Mar 2018 Indonesia has scrapped a total of 186 energy regulations and permit requirements, hoping to make its energy sector more attractive.
21 Sep 2017 regulations"for"offshore"oil"and"gas"installations"and"tankers." This" thesis" examines" laws" and" regulations" on" offshore" oil" and" gas" 6 Nov 2017 Current policies do not support collaboration between the local industry and more advanced companies. As a result, international companies are 5 Oct 2017 Based on Government Regulation No. 35/2004 on Upstream Oil and Natural Gas Business Activities, an oil and gas contractor can obtain a
Indonesia's wider concern was that, while such operators generally do carry insurance, it is usually determined in accordance with the regulatory limits set by
3 Jan 2020 Oil & Gas Laws and Regulations covering issues in Indonesia of Overview of Natural Gas Sector, Overview of Oil Sector, Development of Oil 25 Oct 2019 In 2017, Indonesian President Joko 'Jokowi' Widodo issued a regulation classifying a number of upstream oil and gas projects as national Indonesian Financial Accounting Standards. IFRS. International of “draft” Oil and Gas Laws have been circulated there is still no clear timeline on this matter. 2. 9 Aug 2019 1. General Structure of Petroleum Ownership and Regulation Indonesia's State -owned oil and gas company is PT Pertamina (Persero) Information and analysis of the laws and regulations governing Indonesia's oil & gas sector plus key business and investment opportunities.
16 Mar 2018 of Industry's Regulation 65 of 2016, namely: to make a certain from Indonesia on developments on revisions to the Oil and Gas Law and on 21 Sep 2017 regulations"for"offshore"oil"and"gas"installations"and"tankers." This" thesis" examines" laws" and" regulations" on" offshore" oil" and" gas" 6 Nov 2017 Current policies do not support collaboration between the local industry and more advanced companies. As a result, international companies are