Deliberation of oil and gas bill 80% completed

Minister of Mines and Energy Susilo Bambang Yudhoyono said that the deliberation of the oil and gas bill at his ministry is already 80% completed, the Astaga.com said on Tuesday.

The principal framework of the bill has already been approved, the minister said at opening a workshop on the prevention of illegal mining practices in Cipayung, Bogor on Tuesday.

Hopefully the draft can be submitted to the House of Representatives in June or July for further deliberation, he said.

"Parts of the bill, which have not yet been finalized, include reducing the monopoly enjoyed by state-oil company Pertamina. As the monopoly practices do not allow any opportunity for competition with other domestic and foreign investors, we will regulate as to what extent Indonesia wants to open the competition opportunity with other investors," Susilo said.

The unfinished parts also include who or which parties will have the authorities to approve licensing for the production sharing contracts - whether still being held by Pertamina and the government or being given to a new independent agency, he said, adding that under the bill Pertamina is expected to be more efficient to enable it to become a world class company. "All these points are still being discussed," he said.

The minister invited officials of the Ministry of Mines and Energy, representatives of Pertamina, intellectuals, non-governmental organizations, associations and economists involved in the deliberation of the bill to abandon unfair practices so that the bill can be completed as soon as possible. (*)