Two Key Issues in Oil and Gas Policy (Wapres Budiono on IPA speech) : • Securing economically optimum oil and gas production as part of total supply of energy for, first, fulfilling domestic needs (growth objective) and, second, exports (revenue objective). • Ensuring pattern of energy consumption that supports maximum, cost efficient, “clean”, economic growth.
On the Production Side, Policies Will Focus on: • Reviving and accelerating exploration activities by reviewing the incentives structure, streamlining regulations and eliminating implementation bottlenecks. • Setting up an effective system for monitoring of the progress of the development of all significant fields in the national oil gas portfolio. On the Consumption Side, Policies Will Focus on: • Developing domestic infrastructure that will support optimum gas utilization by domestic industries, power, transport and households. • Designing Multiyear Plans toward rational, sustainable pricing system for domestic fuels, gas, power and fertilizers. Hence, rational and sustainable subsidy system. -- You can do hard way or you can do smart way ... both ways need you to do it any way ... not just discuss it in the hall way.
