Jakarta - Indonesian Petroleum Association (IPA) hopes the process of revision of Law No.22/2001 on oil and gas is completed soon so it will not discourage investor intention to invest.
IPA Vice President Sammy Hamzah stated that basically from the upstream oil and gas sector, the revision of oil and gas Law will not have great impact to the efforts to increase oil and gas production. However, investors are worried should there be no business certainty on the revised law.
Jakarta (SI) - Indonesian Petroleum Association (IPA) hopes the process to revise the Law No 22/2001 on Oil and Gas will be completed soon.
IPA Vice President Sammy Hamzah said today the draft revision of oil and gas law is still being discussed academically. "We want clarity as soon as possible. If the government would like to amend the law, we expect it would be amended through an appropriate procedure, which is by involving all stakeholders including the investors, "he said in Jakarta yesterday.
The Indonesian Petroleum Association (IPA), a powerful grouping of oil and gas companies operating in Indonesia, has suggested legislators to establish an arbitrary institution to settle cost recovery disputes between oil and gas producers with upstream oil and gas regulator BPMigas.
The Indonesian Petroleum Association (IPA) paid a courtesy visit to the Indonesian Vice President Boediono and asked the government to immediately ratify the Draft Government Regulation on cost recovery to provide legal certainty for investors which are eager to invest in oil and gas sector.
Dear participants of the 34th Annual IPA Convention and Exhibition 2010, complete pictures of the 34th Annual IPA Convention and Exhibition 2010 is now available at the Photo Gallery on the News section of this IPA website or click here for the short cut.
“Investing Together for Future Growth”
Jakarta Convention Center, 18th-20th May 2010
The 34th Annual IPA Convention & Exhibition 2010 has come to an end on Thursday, May 20, 2010. This most awaited and prestigious annual event of the Indonesian oil and gas industry was held in Jakarta Convention Center, Jakarta and has drawn interest of 3377 convention participants, 138 Booth Exhibitors which comprise oil and gas companies operating in Indonesia, service companies and many others.
Jakarta - Realization of upstream oil and gas investment in the first quarter-2010 reached U.S. $ 2.61 billion, U.S. $ 60 million higher compared to investment over the same period last year which was U.S. $ 2.55 billion.
The 34th annual Indonesian Petroleum Association (IPA) convention was closed Thursday with the government offering 18 new oil and gas blocks and 9 new coal bed methane (CBM) blocks.
The Indonesian Petroleum Association (IPA) is preparing to hold one of the most important events for the oil and gas industry in the nation, the 34th IPA Convention and Exhibition, this May 18 to 20, 2010 at the Jakarta Convention Center.
The Indonesian Petroleum Association (IPA) will hold its annual conference later this month. In anticipation of the conference, The Jakarta Post interviewed via email IPA president Ron Aston about the current challenges faced by the industry. The following are excerpts of the interview.