The Ministry of Energy and Mineral Resources (ESDM) is set to increase investment in the upstream oil and gas sector by simplifying the permitting process.
“Currently, we have about 300 permits, which is excessive. We will streamline and cut these down,” ESDM minister Bahlil Lahadalia told the Detikcom Leaders Forum on Wednesday, September 11, 2024.
In addition to cutting red tape, the government will engage in discussions with contractors to address ongoing challenges in the sector.
“We will provide substantial support or incentives that the government can offer to attract investors,” Bahlil added.
The Upstream Oil and Gas Regulatory Task Force (SKK Migas) reported that upstream oil and gas investments in the first half of 2024 reached US$5.6 billion (Rp86.3 trillion). This figure represents about 75 percent of the government’s target for the first half of…
