The implementation of the SNI ISO 37001:2016 standard is expected to boost investment in the oil and gas exploration and production.

The new system, adapted from the ISO 37001 standard introduced by the International Organization for Standardization early this year, specifies a series of measures to help organizations prevent, detect and address bribery.

“If we can eradicate bribery practices in the upstream oil and gas sector, it will be easier for businesses to make investment decisions. This, hopefully, will make investment more attractive and eventually boost investment in the sector,” SKKMigas head Amien Sunaryadi said Tuesday.

Official data show that investment in the upstream oil and gas sector plunged from an annual figure of US$19.34 billion in 2013 to a mere $9.33 billion in 2017, or 75.9 percent of the target stated in last year’s revised state budget.

In the 2017 corruption perception index (CPI) released by Transparency International in February, Indonesia scored only 37 of a possible 100, similar to the country’s achievement in 2016, despite the government’s persistent law enforcement efforts against graft.

Looking at this achievement, Transparency International board member Natalia Soebagjo said it was unrealistic for Indonesia to set a target to reach a CPI score of 45 by 2019.

“Indonesia has to review its strategy, then revise it to be effectively implemented by all stakeholders,” Natalia said. (bbn)

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