Berita

The President of Republic of Indonesia, Susilo Bambang Yudhoyono officially opened the Indonesian Petroleum Association Convention and Exhibition on Tuesday (5/5). Attendants of this event include the Minister of Energy and Mineral Resources including high ranking officials of the department, the Governor of Jakarta, President of IPA, Ministers of the cabinet, ambassadors, and CEOs of Oil and Gas stakeholders.

During his opening speech, the President stated that despite the global economic recession, the oil and gas sector still has many opportunities to be further developed. This sector has been one of the main pillar of the nation’s economy, contributing 21% of our total export and 32% of the nation’s income.

The President explains that the government is keen on creating an ideal investment climate by creating incentive packages and improving fiscal policies. “We are currently working out the tax issues of oil and gas investments, currently we have carried out several steps to uphold the supremacy of the law and effective regulations”.

Oil and gas industry have been rapidly developing during the last five years. The government has succeeded into turning what was once a monopolistic system into an open market one. “These contract signings indicate the high level of interest from upstream oil and gas investors towards Indonesia, with 16 out of 60 hydrocarbon basins in Indonesia are currently producing oil and gas” explains the Minister of Energy and Mineral Resources, Purnomo Yusgiantoro.

This 33^rd IPA convention and exhibition, themed “Managing Resources and Delivering Energy in a Challenging Environment” is scheduled to continue until Thursday (7/5).