SKK Migas: Govt receives $780m of ASR funds
Thursday, March 10 2016 - 03:17 AM WIB
By Febry Silaban
Upstream authority SKK Migas said that the goverment has currently received about US$780 million worth of the so-called Abandonment and Site Restoration (ASR) funds allocated by production sharing contractors (PSCs) operating in the country.
Deputy for Finance Control at SKK Migas Parulian Sihotang said to Petromindo.com that the ASR funds were received from 58 PSCs.
The ASR funds will be used to among others finance restoration work after the PSCs abandon their concessions. While it is not mandated under the contract, the funds are required as ruled by a 2010 regulation issued by the oil and gas upstream authority.
Editing by Reiner Simanjuntak