Indonesia has given some indication of what a regulatory overhaul of the oil and gas industry could look like. In his hearing with the country's House of Representatives Commission VII on April 8 2015, Energy and Mineral Resources Minister Sudirman Said outlined the following proposals: Creation of a state-owned business entity to replace upstream regulator SKKMigas. This body will sign contracts with energy companies in the country and will be allowed to independently raise funds in the global bond market. Pertamina to be directly assigned blocks by the government for management. Pertamina to handle blocks under a concession structure instead of the existing production sharing contract (PSC) structure. Simplifcation of regulations.
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