Energy Minister Jero Wacik determined to speed up approvals

Energy and Mineral Resources Minister Jero Wacik said he is determined to speed up approvals of projects and permits of the upstream oil and gas sector, which is under his authority.

?Investors have invested in Indonesia. They have to be assured about certainty of their investment,? Jero Wacik said during a working meeting of the upstream oil and gas regulator BPMIGAS on Wednesday.

Among key decisions that he has made since his appointment to the post on October 19, are the approval of gas swap deal between Gajah Baru field operated by Premier Oil and gas field operated by ConocoPhillips at volume of 40 million cubic field per day. He has also approved the unitization ? joint development ? of Suban III field which has been delayed for years.

The minister also assured oil and gas players that he will speed up the approval of plan of development (PoD) submitted by production sharing contractors (PSCs).

Nevertheless, it does not mean that he will make decisions hastily. The decisions are made after conducting thorough study and in accordance with proper procedure. (godang)