SKK Migas appreciates six oil and gas contractors

Upstream authority SKK Migas gave appreciation to six oil and gas contractors for financial reporting and compliance in 2013.

The accolades were granted by SKK Migas Deputy for Financial Control, Bugi Agustyono at the 47th annual Crude Oil Monitoring Lifting and Entitlement (COMLE) and Gas on Thursday in Bandung, West Java.

?It is hope that this appreciation will provide motivation to the other contractors,? he said in a statement issued by the SKK Migas.

The six oil and gas contractors are Santos, Star Energy, PHE WMO, Kangean Energy Indonesia, Premier Oil, and PHE ONWJ.

The six are selected from 90 contractors which were evaluated by SKK Migas using two aspects including financial performance, and business process and corporate behavior. In evaluating the financial performance aspect, using parameters designed by Ernst & Young, SKK Migas looked into the contractors? contribution to the state revenue, ratio of cost recovery to gross revenue, and comparison between actual lifting and planned lifting.

Editing by Reiner Simanjuntak