concerns including difficulties concluding land acquisitions, Land acquisition remains a big problem for Indonesia’s oil and gas industry. the newly enacted Law on Land Acquisition for Public Interests had actually created a more cumbersome process for oil and gas companies the 2012 law stipulated that land acquisition for public interests, including oil and gas projects, could only be negotiated by the government, through the National Land Agent It also stated that land acquisitions must be executed through “deliberations.” the new law had some loopholes as it allowed land acquisitions of less than 1 hectare to circumvent the usual lengthy process, and suggested oil contractors keep their land needs to a minimum. If they still need more than 1 hectare, then just purchase 1 hectare and rent the remainder with a promise to buy it later,”
QPN Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
