Wednesday, July 12, 2017

Issue Number: 3158

New Cost-Recovery Scheme for Oil-and-Gas Contractors Finally RegulatedXX

In response to the sluggish conditions which currently prevail within the oil-and-gas industry, the government has finally decided to introduce a number of incentives and flexible provisions which address the cost-recovery scheme for oil-and-gas contractors (“Contractors”) through the issuance of Government Regulation No. 27 of 2017 (“Amendment”).   The Amendment substantially changes a number of provisions which were originally stipulated in Government Regulation No....
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