Oil And Gas Practitioners Urge Government To Accelerate Oil And Gas Law Revision

Illustration (Photo: Doc. Antara)

JAKARTA - Oil and gas practitioner Hadi Ismoyo urges the government to accelerate the revision of the Oil and Gas Law so that it can provide a legal umbrella and attract investors to invest their money in Indonesia's upstream oil and gas industry.

"It is clear that we are engaged in the oil and gas industry and need a legal umbrella. So far, SKK Migas has also been ad hoc. This legal umbrella has to be made more firm," said Hadi in the Energy Corner, Monday, February 13,

Hadi added, apart from that the roles of ministries and institutions such as SKK Migas, Ministry of Energy and Mineral Resources, Ministry of Finance, and KLHK are interrelated in efforts to explore oil and gas working areas in Indonesia.

In his opinion, regulations related to these ministries and agencies must be included in the Oil and Gas Law so that they can work together.

"ESDM has an agenda, the Ministry of Environment and Forestry has an agenda, the Ministry of Finance has an agenda so that matters related to physical terms and risks that are mitigated from a financial perspective cannot be connected," continued Hadi.

According to him, this synergy must be carried out so that the government's goal of targeting an oil and gas lifting of 1 million barrels in 2030 can be achieved immediately.

He took the example of the Warim Basin which is located in Papua. The oil and gas potential in this basin is considered quite large and is estimated to exceed the Masela Block in Maluku.

However, there are challenges to Warim's development, such as its proximity to Lorentz National Park.

"For example, Warim is a national park, if the Ministry of Environment and Forestry doesn't allow it, it will be finished. We won't have any exploration there. Coordination between ministries must have a law," concluded Hadi.