PRESS RELEASE: Working System and Organization of BPMIGAS

Following is a press release from BPMIGAS:

As it has been known, with the formation of Implementing Body for Oil and Gas Upstream Activities (BPMIGAS) based on Government Regulation No. 42 Year 2002, effective as from July 16, 2002, all duties, rights and responsibilities including the implementation of the tasks and functions of Production Sharing Management Directorate of Pertamina have been transferred to BPMIGAS.

In order to ensure that the smoothness and continuity of the implementation of guiding and supervising tasks of Production Sharing Contractors will not be disrupted, there needs to be stipulated that:

1. As long as the procedures and working system of BPMIGAS are have yet to be officially decided, policies, regulations and stipulations which so far have been used and implemented by Production Sharing Management Directorate of Pertamina remain effective.

2. As long as the whole organizational structure of BPMIGAS has not been officially decided, the organizational structure of Production Sharing Management of Pertamina, from the Senior Manager level down through to the implementation level, remains effective.

Head of Implementing Body for Oil and Gas Upstream Activities

Rachmat Sudibjo

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