Attention Oil-and-Gas Contractors: A New Special Business Entity Will Soon Takes Control of Upstream Business Activities and Cooperation Contract Approvals

Indonesia’s House of Representatives (Dewan Perwakilan Rakyat– “ DPR ”) is currently completing work on a new Draft Bill on Oil and Gas (“ Draft Bill ”). If this Draft Bill is ultimately enforced, then it will repeal and replace the existing framework of Law No. 22 of 2001 , which bears the same title as the Draft Bill, as amended several times, most recently through Law No. 6 of 2023 on the Enactment of Regulation of the Government in Lieu of Law No. 2 of 2022 on Job Creation into Law (collectively referred to as “ Law 22/2001 ”). [1]