Govt Offers Large Split, Ramps Up Upstream Oil and Gas Investment

By Editorial Team 21/06/2021
Oil rig
Summary

The Ministry of Energy and Mineral Resources (ESDM) plans to provide a more significant split for oil and gas contractors to create a more attractive investment climate in the upstream oil and gas sector.

ESDM Minister Arifin Tasrif said the country sees tougher competition to attract investment in the oil and gas sector. The sector’s growth is relatively declining following the emerging global and local trends, such as the United States shale oil revolution, energy transition, COVID-19 pandemic, and plummeting oil prices.

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