New regulation planned for oil, gas joint audit

By Bernard Loebs

Petromindo|Khalsa

The Ministry of Finance is currently drafting a new regulation on a joint audit of the country?s upstream oil and gas industry by related institutions.

Parulian Sihotang, Deputy for Finance at upstream oil and gas authority SKK Migas, said on Tuesday that the new regulation is expected to be issued soon.

He explained that current audit process of the upstream oil and gas industry has not been efficient and undermines upstream operations of oil and gas contractors as it is conducted by numerous individual institutions such as the State Finance and Development Agency (BPKP), Supreme Audit Agency (BPK), the Directorate General of Taxation, SKK Migas, and internal auditor of the contractors.

He said that the help resolve the problem of multiple audit processes, a joint audit by the institutions has been proposed.

Editing by Reiner Simanjuntak