President puts ?BPMIGAS? under ministry
Wednesday, November 14 2012 - 11:13 AM WIB
President Susilo Bambang Yudhyono has issued Presidential Regulation No. 95/2012 to convert BPMIGAS into Pelaksana Kegiatan Usaha Hulu Migas (Oil and Gas Upstream Business Executive Unit), placing it under the Minister of Energy and Mineral Resources.
The regulation is effective November 13, 2012, Vice Minister of Energy and Mineral Resources Rudi Rubiandini said on Wednesday.
The Minister of Energy and Mineral Resources serves as the head of the unit, according to Rudi.
?All contracts (that have been signed by BPMIGAS) remain valid, while all (oil and gas) activities that have started and are in progress should be continued and are considered legal,? Rudi said.
The President issued the regulation following the Constitutional Court?s decision on Tuesday to break up BPMIGAS on the grounds the existence of the agency runs counter to the 1945 Constitution.
Editing by Johannes Simbolon