NEWS

13Jul

BP Migas Criticizes GR on Cost Recovery

The Executive Agency for Upstream Oil and Gas (BPMIGAS) have requested that the Government Regulation no. 79 of 2010 on Recoverable Operating Costs and Income Tax Treatment in the Oil and Gas Upstream Sector (GR Cost Recovery) should not be applied to existing contracts in order not to disturb the contracts that have been running for a long time, says the BPMIGAS Chairman. The implementation of the policy will affect the return on investment and the legal security of investors.

07Jul

Govt to Await Judicial Review on Cost Recovery Decree

The government admits the dilemma regarding several articles within Government Decree No. 79/2010 on Cost Recovery.

“We are waiting for the result of judicial review proposed to Supreme Court. It appears that they (Indonesian Petroleum Association/IPA) want to capitalize on the timing to bring the whole issue up,” said the head of Upstream oil and gas regulator BP Migas Security and Formality Division, Gde Pradanyana, at Hotel Mulia, Monday (04/07/2011).

06Jul

Cost Recovery Policy Will Cut Down Oil Production

The Indonesian Petroleum Association (IPA) believes the cost recovery policy could potentially depress oil production. “Not only reduce production, the regulation is predicted to reduce the interest of foreign investors in investing,” said IPA President Ron Aston in Jakarta late last week.

04Jul

GR Cost Recovery Against The Law

JAKARTA: Despite the government  having prepared the implementing regulation on   Government Regulation No.79/2010 regarding cost recovery, the GR is still unworkable because it is  fundamentally contrary to the  prevailing law. The Indonesian Petroleum Association (IPA) Attorney Todung Mulya Lubis said that  basically  there should be no rules which conflict with its higher regulations.

28Jun

IPA says cost recovery ruling to cost production by 150kboepd

Indonesian Petroleum Association (IPA) said on Monday that Indonesia may lose at least 150,000 barrels per day of its existing hydrocarbon production if the government continues to apply new cost recovery ruling that the association saw detrimental to upstream investment.

23May

IPA President Ron Aston Opening Speech - 35th IPA Convention & Exhibition

Your Excellency Bapak Boediono, VP of the Republic of Indonesia,
Your Excellency Bapak Darwin Saleh, Minister of Energy and Mineral Resources,
Ibu Evita Lebowo, Director General MIGAS,
Bapak Hardiono, Vice Chairman of BPMIGAS
Members of House of Representative, DPR
Ambassadors,
Distinguished participants, IPA colleagues, ladies and gentlemen.

23May

Keynote Speech, Minister of EMR Bapak Darwin Saleh at the Opening Ceremony of 35th IPA Convex

Jakarta Convention Center, May 18th 2011

23May

Remarks by The Vice President of the Republic of Indonesia at the 35th IPA Convex 2011

Jakarta, 18th May 2011

10May

President to Open Indonesian Petroleum Association Convention

MedanBisnis – Jakarta. President Susilo Bambang Yudhoyono is scheduled to open the Indonesian Petroleum Association (IPA) convention and exhibition on May 18th, 2011.

09May

Petroleum Exhibition to be held in May

JAKARTA – The Indonesian Petroleum Association (IPA) announced today that it anticipates welcoming over 150 local and international companies to its forthcoming Convention & Exhibition to be held on May 18-20th at the Jakarta Convention Centre.