Indonesia overhauls system for future oil, gas contracts


Not Malaysia news, but I would bet that PETRONAS had a look at this

Dateline 2017-01-20, NST:

Indonesia has adopted a new scheme for future oil and gas production sharing deals so that contractors shoulder the cost of exploration and production, rather than being reimbursed by the government. Under the shake-up, flagged late last year, contractors will retain a bigger portion of the oil and gas they recover in return for paying more upfront costs. The shift, designed to ease the burden on Jakarta’s budget, will only apply to new contracts and will not disrupt existing agreements using the current cost-recovery system. Big global firms such as Chevron, Exxon Mobil and Total operate in Indonesia, but the country has struggled to attract fresh investment and to develop new fields.

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