Indonesia: Chevron Awaits Government’s Fiscal Policy Certainty

• May 03, 2018

TEMPO.CO, Jakarta – Chevron IndoAsia Business Unit Managing Director Chuck Taylor said that the multinational energy corporation appreciates the Indonesian Government’s decision to simplify regulations in the oil and gas sector, which he values would create a more competitive climate within the industry.

“With a competitive investment climate completed with the reserves that exist, Indonesia has the chance to improve its oil and gas investments, jobs, and an exponential income for the government,” said Taylor on Wednesday, May 2.

Chevron is one of multinational energy corporations that have operated in Indonesia for as long as 94 years and has several land oil and gas fields across Riau and Sumatra and offshore PSCs at the East Kalimantan offshore. The company has produced more than 13 billion barrels throughout its existence in Indonesia.

Furthermore, Taylor revealed what he thinks is demanded by oil and gas investors, which is certainty and fiscal competitiveness. Especially considering that in recent years that has demanded investors to reduce its costs and be more selective in making investment decisions.

“Investors expect a contract that supports a world-class operating performance, financial value, and competitive income,” said the Chevron IndoAsia Business Unit Managing Director.

Source: https://en.tempo.co/read/news/2018/05/03/056918107/Chevron-Awaits-Governments-Fiscal-Policy-Certainty