REPUBLIKA.CO.ID, KUTA – The contracts of Indonesian oil and gas regulator BP Migas are still running even though the agency is dismissed by Constitutional Court in November 13. The Production Sharing Contract Contractor (K3S) were urged to stay calm, the Minister of Energy and Mineral Resources Jero Wacik said.

“I must ensure the stakeholders of oil and gas, the K3S of foreign and domestic companies,’ Wacik said during the meeting with K3S on Friday night in Bali. 

The meeting was taken by the government to ensure the contractors that their oil and gas contracts still run normally. Some of the contractors are Medco, Indika, Efindo, and several foreign companies.

Wacik guarantees that all signed contracts will run as usual. He said that it was BP Migas that was considered as unconstitutional, not the contracts. The Ministry has also taken over new contracts and several negotiations.

Shortly after the dismissal, President Susilo Bambang Yudhoyono issued a Presidential decree governing the role of BP Migas to be handed to the Ministry of Energy and Mineral Resources.

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