Pertamina oil, gas contractors can decide on spending below Rp 50b

Oil and gas contractors of the state-owned oil and gas firm Pertamina can decide on spending below Rp 50 billion or US$5 million without prior approval of the latter, the Neraca daily said.

The paper quoted Pertamina public relations officer Haryanto as saying that the policy had been implemented since the middle of last year.

Haryanto was responding to comments that Pertamina had been too deeply involve in the management of the so-called production sharing contract including in the spending for small materials. There has been suggestion that Pertamina should leave the day-to-day management to the contractors, and that in the future Pertamina's role should just focus on shareholder role. (*)