Govt Continues To Support Oil And Gas Industry

Jakarta (Antara Bali) - The Indonesian government remains committed to supporting the oil and gas industry in the country despite a shortfall in global crude prices, Coordinating Minister for Economic Affairs Darmin Nasution said.

"The government does not intend to delay policy reforms in the oil and gas sector," he stated at the 40th Convention and Exhibition of the Indonesian Petroleum Association (IPA) here on Wednesday.

Among the policy decisions the government has taken in the oil and gas sector is changing the state budget's structure by scrapping oil subsidies and simplifying licensing procedures through the Investment Coordinating Board (BKPM), he pointed out.

However, he added, the policies are far from enough.

"We will improve the policies in the oil and gas sector this year because we cannot afford to postpone them until next year," he observed.

To ensure the success of the oil and gas policies, he called for cooperation among the Energy and Mineral Resources Ministry, the Finance Ministry, the Forestry and Environment Ministry, the Agrarian Ministry and the Maritime Affairs and Fisheries Ministry.

Energy and Mineral Resources Minister Sudirman Said shared Nasution's view, hoping that the oil and gas policies will be able to establish and sustain cooperation between the government and oil and gas companies.

"We must rearrange the policies to ensure sustainable partnership," he advised. (WDY)