Indonesia plans to replace the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) with a new Special Oil and Gas Business Entity (BUK Migas) under a revised Oil and Gas Law expected to be enacted before the end of 2026. According to legislator Eddy Soeparno, the transition will not disrupt upstream oil and gas operations because SKK Migas’ functions will be transferred to the new institution. The reform responds to a 2012 Constitutional Court ruling that dissolved BP Migas and led to the creation of SKK Migas as a temporary body. BUK Migas is intended to become the permanent institution responsible for managing and overseeing Indonesia’s upstream oil and gas sector. Under the proposed framework, BUK Migas would have broader authority than SKK Migas, including managing oil and gas working areas, selecting contractors, signing cooperation contracts, managing revenues and assets, recording reserves, overseeing upstream data, and making investments through participating interests. If it cannot directly operate a working area, it would be allowed to offer it to other companies. The Oil and Gas Law revision has been debated since 2022, with several institutional options considered, but the latest draft favors establishing BUK Migas as a permanent entity reporting directly to the President, potentially ending years of uncertainty over Indonesia’s upstream oil and gas governance structure.Source: https://indonesiabusinesspost.com/7231/Politics/indonesia-s-oil-gas-sector-prepares-for-major-regulatory-overhaul (ICE GIACARTA)

Fonte notizia: Indonesia Business Post, 27 August 2026