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Petroleum businesspeople call for increased govt efforts
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Pertamina Hulu Energi West Madura Offshore (PHE WMO) workers are moved in a personnel basket from a ship to the company’s oil rig off the coast of Madura Island in East Java. (JP/Wahyoe Boediwardhana)
T
he Indonesian Petroleum Association (IPA) has expressed concerns over the investment climate in Indonesia’s upstream oil and gas sector amid poor oil prices.
IPA president Christina Verchere said that although she appreciated the government’s moves to issue new policies intended to improve the investment climate, more efforts were needed to make the oil and gas sector more attractive to investors.
“Some other uncertainties such as fiscal terms and the tax regime also need to be addressed so that Indonesia can be more competitive,” she said during the opening of the 41st IPA convention and exhibition in Jakarta on Wednesday.
Verchere acknowledged that the government was committed to working with the IPA to achieve its goals.
However, she emphasized that what had been done by the government had not brought in investors. “The facts show that the number of active fields is in decline; exploration results are not good and lately there has been only a minimal amount of exploration activities across the country,” she said.
The IPA convention and exhibition, one of the biggest energy gatherings in Southeast Asia, will be held for three days from May 17 to May 19 at the Jakarta Convention Center. (bbn)
