DPR approves Rachmat?s appointment as oil body chief

The House of Representatives (DPR) on Thursday approved the appointment of oil and gas director general Rachmat Soedibjio to head the newly formed Implementing Body which has the highest authority in the country?s upstream oil and gas sector, according to a source at DPR.

DPR will on Friday issue its approval letter to President Megawati Sukarnoputri, the source told Petromindo.com.

?So it is now up to the President when to install Rachmat as chief of the body,? the source added.

According to existing oil and gas law, which came into force late last year, the President appoints head of the Implementing Body and that he or she is directly accountable to the President. Megawati on Tuesday sent a letter on her decision to appoint Rachmat chief of the body. It is better known by its acronym Balak.

The body will take over from state oil and gas firm Pertamina regulatory functions and responsibilities of managing oil production contracts either under Production Sharing Contract (PSC), Technical Assistance Contract (TAC) and Joint Operating Body (JOB). (alex)