SKK Migas to Ease Additional Investment Requirements

By Editorial Team 19/05/2021
Summary

The Upstream Oil and Gas Regulatory Special Task Force (SKK Migas) will facilitate oil and gas contractors (KKKS) planning to increase their investments this year. "If a KKKS wants to add its investment even though it is not in the WP&B [Work Program & Budget] that year, SKK Migas will facilitate it," SKK Migas Head of Program and Communication Division, Susana Kurniasih, confirmed it on Tuesday (5/18).

She explained that even though global crude oil prices keep creeping up, Indonesia's upstream oil and gas work plan will still use the 2021 work programs and budgets. Susana argued that the upstream oil and gas industry is high-risk so that any investment activity has to depend on sufficient crude oil price projections.

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