Govt to renegotiate oil and gas, mining contracts

The government will renegotiate existing oil and gas, and mining contracts there are deemed unfair for Indonesia.

President Susilo Bambang Yudhoyono said on Wednesday the government was currently reviewing one by one the existing contracts whether they are truly fair and logic. ?If the contracts hurt the sense of justice, then there is a door to talk in good manner through renegotiation of the contract with a note (in respect of) sanctity of contract,? he said.

The renegotiation of the contracts is expected to bring better benefit and justice to the people. (*)