Greater role of national banks: SKK Migas

By Godang Sitompul

Transactions carried out through national banks have reached US$26.678 billion as of March, about 135 percent higher than transaction value posted in the same period last year, said upstream authority SKK Migas.

Chairman Rudi Rubiandini also said that SKK Migas has recorded as of March $355 million in abandonment and site restoration (ASR) fund, 165 percent more than a year earlier.

?This year we have managed to increase involvement of national banks as seen in those figures. This year, Bank Negara Indonesia (BNI) became the first state lender that provides trustee business and paying agent services for sales of LNG from the Mahakam block,? said Rudi.

Rudi was speaking during the launching of a book titled Oil and Gas, Banking and National Economy; Synergy between Oil and Gas Upstream Industry and National Banking, in Jakarta on Thursday.

Rudi also gave appreciation towards Bank Rakyat Indonesia (BRI) that has established general business and oil and gas division.

Editing by Reiner Simanjuntak