Ruling on executive body to be completed in four months
Thursday, November 29 2001 - 02:29 AM WIB
A special government team currently in the process of writing the implementing regulations of the country?s new oil and gas law will complete the ruling on the planned executive body, which will take over the role of the state-owned oil and gas company Pertamina in the administration of oil and gas contracts.
?It (the ruling on executive body) will be completed in four months,? said Kardaya Warnika, staff expert of the minister of energy and mineral resources.
He said that the implementing regulation would cover the function and responsibilities of the executive body, members, organization structure, and activities.
The new Oil and Gas Law No. 22/2001 aims at liberalizing the oil and gas sector and ending the decades-long monopoly of Pertamina.
Oil and gas investors have cautiously welcomed the new oil and gas law, saying that they still want to see the implementing regulations first including the one on the executive body.(Godang)