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Jakarta Post

Oil and gas industry demands legal certainty in Jokowi's second term

  • Norman Harsono
    Norman Harsono

    The Jakarta Post

Jakarta   /   Tue, October 22, 2019   /  07:10 am
The Jakarta Post Image
Illustration of worker in oil and gas industry.(Shutterstock/File)

Indonesia’s oil and gas industry stakeholders have expressed hope that President Joko ”Jokowi” Widodo’s energy team in his second five-year term would introduce changes and legal certainty that attract the necessary investments to conduct exploration and, thus, make new oil and gas discoveries. The newly inaugurated President offered ministerial positions to several prominent individuals on Monday, but the Presidential Palace remained tight-lipped on the Cabinet configuration, the announcement of which is expected to occur on Wednesday. “The rule of thumb is, if we want to increase oil production, we need new discoveries. We have only managed to slow down the natural decline of existing reserves,” said industry player Tumbur Parlindungan, former chairman of the Indonesian Petroleum Association (IPA), at an industry outlook discussion in Jakarta o...