Upstream oil and gas regulator BPMIGAS says many oil and gas contractors are holding their investments following state-run oil company Pertamina's aggression in acquiring blocks nearing the expiration of their contracts.
Jakarta, INDONESIA - May 25th 2012: At the closing ceremony today of the 36th Annual Convention & Exhibition of the Indonesian Petroleum Association (IPA), the oil and gas industry expressed its appreciation for statements by the Minister for Energy and Mineral Resources that the Government of Indonesia and the petroleum should respect each other´s interests.
Oil and gas companies are confident about the outlook for energy sector reforms in Indonesia, highlighting the need to tackle investment challenges through comprehensive dialogue. This will in turn spur exploration activities, as maturing fields show declining production levels.
Energy demand in Indonesia is likely to triple by 2030, driven by continued economic growth, according to industry experts. Speaking in Jakarta at the plenary session of the 36th Annual Convention and Exhibition of the Indonesian Petroleum Association (IPA), officials from both the public and private sectors said this trend highlighted the urgent need for new policies to ensure the security of the country's energy supply.
JAKARTA: Indonesian Petroleum Association (IPA) will continue to strive to continue dialogue with the government for the revision of Government Regulation No. 79/2010 on Cost Recovery.
JAKARTA: The government requested to be more transparent and faster in deciding a contract extension before the oil and gas contract expires. President of Indonesian Petroleum Association (IPA) Jim W. Taylor said that with the increasing number of oil and gas contracts that are approaching their end dates, contract renewal process should be clear and transparent.
Indonesia Petroleum Association (IPA) considers the petroleum fund plan has the potential to create bigger risk to the state’s financial condition. Moreover, the fund would be taken from the State Budget, said the association. The petroleum fund managed by government’s special institution means the government is fully involved in the national oil and gas business.
On Wednesday, September 28, 2011 the Ministry of Energy and Mineral Resources held an event to commemorate the 66th Anniversary of Mines and Energy at the Gawitra Oil and Gas Museum and the Electricity Museum, Taman Mini Indonesia Indah (TMII). The Gawitra Oil and Gas Museum, which was built in 1987, was created as a result of an agreement reached at the 14th IPA Annual Convention and Exhibition on October 14, 1985 and is still actively supported by member companies of the IPA. At the 35th IPA Annual Convention and Exhibition which was held recently in May 2011, the IPA also donated an "Energy edutainment" movie to the Gawitra Oil and Gas Museum to add to the existing collection of educational movies at the Museum with regard to the origins and use of energy.
Dear IPA Members, we are pleased to convey to you EITI second quarterly report for 2011.