Key Changes in the New Regulation on Gross Split Production Sharing Contract
Key Changes in the New Regulation on Gross Split Production Sharing Contract have brought about significant updates with the issuance of Minister of Energy and Mineral Resources Regulation Number 13/2024 ("MoEMR Reg 13/2024"). This regulation replaces its predecessor (MoEMR Reg. 8/2017, last amended by MoEMR Reg 12/2020) and aims to simplify the Gross-Split Production Sharing Contract scheme, making it more flexible and competitive. Key highlights include streamlined base split mechanisms, updated progressive and variable components for conventional and non-conventional oil and gas fields, and clearer provisions for contractor obligations, state revenue, and supervision by SKK Migas. The changes provide opportunities for greater efficiency, ensuring that contractors and the government benefit from an improved regulatory framework. How will Indonesia's revised Gross Split PSC regulation impact your oil & gas investments? Find out more our insights about this topic in our Legal Brief publication.
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