Tuesday, October 03, 2017

Issue Number: 3214

Procedures for the Management and Governance of State-Owned Assets within the Upstream Oil-and-Gas Business SectorXX

In order to implement a more effective, efficient and integrated management of state-owned assets (Barang Milik Negara – “BMN”) within the upstream oil-and-gas business sector, the Ministry of Energy and Mineral Resources (“Ministry”) has issued Regulation No. 51 of 2017 on the Management and Governance of State-Owned Assets for Upstream Oil-and-Gas Business Activities (“Regulation 51/2017”).[1]   This new regulation essentially encompasses several procedures which address the management and governance of BMN, as well as transitional provision which pertain to mandatory reporting by oil-and-gas contractors (“Contractors”) to the Ministry....
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