Ministry reviews ?red label? oil, gas contractors

By Godang Sitompul

Petromindo|Lucky

Vice Minister of Energy and Mineral Resources Arcandra Tahar met on Thursday with officials of 69 oil and gas contractors categorized as ?red label? at the office of the upstream oil and gas authority SKK Migas.

The red label oil and gas contractors are those which have failed to implement exploration commitment as set out in their production sharing contracts.

Arcandra told Petromindo.com that the meeting reviews the problems faced by the contractors in implementing their exploration commitments, and one by one were asked to sign on making firm commitment, which will be reviewed every three months. Failing to implement the commitment may risk their contracts be returned to the government.

Arcandra, however, did not disclose the names of the 69 oil and gas contractors.

Editing by Reiner Simanjuntak