However, the realization of oil and gas investment is facing challenges in terms of regulations and legislation as well as global economic conditions.
This was disclosed by President of the Indonesian Petroleum Association Mahfoedz Lukman, in his speech, at the opening of the convention and exhibition themed "Promoting Investment in a Challenging Environment" initiated by the Indonesian Petroleum Association, on Wednesday (05/15/2013), in Jakarta.
According to President Susilo Bambang Yudhoyono, the oil and gas sector plays an important role in encouraging the growth of the national economy, and also the continuation of a long-term investment that the industry needed.
"Investment in the oil and gas sector is a long-term investment that requires clarity, consistency and legal certainty. Government continues to prioritize efforts to maintain and improve the investment climate, which is an absolute requirement in optimizing the national oil and gas production," said Yudhoyono.
"I have instructed the Minister for Energy and Mineral Resources, Ministry of Finance, and Head of BKPM to cut red tape in the process of formulating the pattern of oil and gas industry and the right incentives to encourage exploration and exploitation activities as well as the implementation of drainage improvement through the application of enhanced oil recovery (EOR) , "he said.
The government is optimistic, the national oil and gas industry remains promising. To that end, investors are invited to invest in Indonesia as well as forming partnerships fair and mutually beneficial.
Minister Jero Wacik said the government believes though faced with various challenges, the oil and gas industry is now rising and will continue to grow together significantly.
Therefore, the cooperation among all stakeholders oil and gas industry is very important in creating a business climate that pro-growth, pro-keja field, pro-poverty eradication, as well as pro-environment.
"Investment in the oil and gas sector is a long-term investment that requires clarity, consistency and legal certainty. Government continues to prioritize efforts to maintain and improve the investment climate, which is an absolute requirement in optimizing the national oil and gas production," said Yudhoyono.
"I have instructed the Minister for Energy and Mineral Resources, Ministry of Finance, and Head of BKPM to cut red tape in the process of formulating the pattern of oil and gas industry and the right incentives to encourage exploration and exploitation activities as well as the implementation of drainage improvement through the application of enhanced oil recovery (EOR) , "he said.
The government is optimistic, the national oil and gas industry remains promising. To that end, investors are invited to invest in Indonesia as well as forming partnerships fair and mutually beneficial.
Minister Jero Wacik said the government believes though faced with various challenges, the oil and gas industry is now rising and will continue to grow together significantly.
Therefore, the cooperation among all stakeholders oil and gas industry is very important in creating a business climate that pro-growth, pro-keja field, pro-poverty eradication, as well as pro-environment.
Learn more about oil and gas investments of USA from Shawn Bartholomae,CEO of Prodigy Oil and Gas company USA.
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