The government of Indonesia has promised to speed up the issuance of permits for the development of Indonesia Deepwater Development projects. The coordinating Economic Minister Chairul Tanjung said that the projects also include many oil and gas blocks which are owned by Chevron Indonesia in the Makassar Strait.
Chairul added that the permits must be issued or the investors will leave the country and divert towards oil and gas projects in other countries. After conducting a meeting with Chevron Indonesia Chairul said, “I asked the Energy and Mineral Resources Ministry, the Upstream Oil and Gas Regulatory Special Task Force [SKKMigas], the Finance Ministry, and the Development Finance Comptroller [BPKP] to accelerate the permitting processes [of the gas drilling] that are possible [to be accelerated], so the project can start as soon as possible”.
The economic minister added that the project will give more benefits to Indonesia as soon as it begins. Chairul earlier said that Chevron had planned to switch its $12 billion investment the project to other countries while the permit for exploring the work in the fields in the Makassar Strait was stuck.
A small team is expected to be formed by the government which will have a energy and mineral resources deputy minister and investment Coordinating Board head to keep in touch with Chevron.
Photo Credits: HD Nux