Ada Pertanyaan? Hubungi Kami 
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Ada Pertanyaan? Hubungi Kami Nadia Maharani, Kartika L. Makmur
A provisional scheme to create a dedicated fund for oil and gas development has now moved beyond the planning stage. The government, represented by Minister of Energy and Mineral Resources (ESDM), Sudirman Said, has confirmed that the process of drafting Petroleum Fund legislation aimed at maximizing oil and gas sub-sector activity is now complete and that the new plan will be implemented during the coming year. Minister Said stated last Friday that in order to realize this goal, a comprehensive legal framework regarding the fund will be published in the near future, including a provision to amend the country's Oil and Gas Law. Minister Said deems this amendment to be necessary and believes that the petrol-fund concept should be incorporated into Indonesia's Oil and Gas Law in order to ensure a stronger legal framework within the sector.
While Minister Said stated that he was highly optimistic regarding the new petrol fund becoming a concrete reality as an integral part of a strengthened legal framework, the Minister was unable to provide any rough estimate regarding the size of the fund. Minister Said explained that there were a number of steps that had to be settled before the size of the fund could be decided, including the construction of a sturdy legal framework, and that this could take a substantial length of time.
“An estimation of the size of the fund cannot be completed in a blink of an eye. First came the original idea, and this was followed by a more fleshed out concept, which in turn has led to the arrangement of the system, which is where we are at now. Later on we can proceed to talk about numbers,” the Minister concluded.
Recent fluctuations in global oil prices have caused serious problems in the country, and the petroleum fund is therefore seen to be needed in order to protect and boost the national economy and the country's energy supply. The new petroleum fund may receive its funding via two possible schemes: either from the State Budget or from taxation, Minister Said has suggested.
IGN Wiratmaja, Director General of Oil and Gas at the Ministry of ESDM has also elaborated on the benefits and importance of such a fund, and has stated that the putative fund would lead to the optimization of oil and gas activities within Indonesia, the stabilization of fuel prices and an increase in the country's fuel reserves.
Mr. Wiratmaja has also stressed that the funds can be used to compensate for budgetary losses that occur due to the national market price of fuel struggling against a broader background of world oil-price fluctuations.
Mr. Wiratmaja has also affirmed the government’s intention to utilize the new petroleum fund in order to expand exploration, not only in regions that have the greatest potential to increase oil reserves and production, but also in seemingly less promising areas of the country.
“The fund will also be used to increase our national energy reserves,” Mr. Wiratmaja stated emphatically.
(hot/ja/sp)
Nadia Maharani, Kartika L. Makmur
A provisional scheme to create a dedicated fund for oil and gas development has now moved beyond the planning stage. The government, represented by Minister of Energy and Mineral Resources (ESDM), Sudirman Said, has confirmed that the process of drafting Petroleum Fund legislation aimed at maximizing oil and gas sub-sector activity is now complete and that the new plan will be implemented during the coming year. Minister Said stated last Friday that in order to realize this goal, a comprehensive legal framework regarding the fund will be published in the near future, including a provision to amend the country's Oil and Gas Law. Minister Said deems this amendment to be necessary and believes that the petrol-fund concept should be incorporated into Indonesia's Oil and Gas Law in order to ensure a stronger legal framework within the sector.
While Minister Said stated that he was highly optimistic regarding the new petrol fund becoming a concrete reality as an integral part of a strengthened legal framework, the Minister was unable to provide any rough estimate regarding the size of the fund. Minister Said explained that there were a number of steps that had to be settled before the size of the fund could be decided, including the construction of a sturdy legal framework, and that this could take a substantial length of time.
“An estimation of the size of the fund cannot be completed in a blink of an eye. First came the original idea, and this was followed by a more fleshed out concept, which in turn has led to the arrangement of the system, which is where we are at now. Later on we can proceed to talk about numbers,” the Minister concluded.
Recent fluctuations in global oil prices have caused serious problems in the country, and the petroleum fund is therefore seen to be needed in order to protect and boost the national economy and the country's energy supply. The new petroleum fund may receive its funding via two possible schemes: either from the State Budget or from taxation, Minister Said has suggested.
IGN Wiratmaja, Director General of Oil and Gas at the Ministry of ESDM has also elaborated on the benefits and importance of such a fund, and has stated that the putative fund would lead to the optimization of oil and gas activities within Indonesia, the stabilization of fuel prices and an increase in the country's fuel reserves.
Mr. Wiratmaja has also stressed that the funds can be used to compensate for budgetary losses that occur due to the national market price of fuel struggling against a broader background of world oil-price fluctuations.
Mr. Wiratmaja has also affirmed the government’s intention to utilize the new petroleum fund in order to expand exploration, not only in regions that have the greatest potential to increase oil reserves and production, but also in seemingly less promising areas of the country.
“The fund will also be used to increase our national energy reserves,” Mr. Wiratmaja stated emphatically.
(hot/ja/sp)