Government Regulates Organization of CCS and CCUS for Upstream Oil-and-Gas Business Activities

As a part of Indonesia's commitment to achieving its Nationally Determined Commitment under the Paris Agreement to combating climate change through a significant reduction in its greenhouse emissions by the year 2050, [1] the Minister of Energy and Mineral Resources (“ Minister ”) has issued Regulation No. 2 of 2023 on the Organization of Carbon Capture and Storage (“ CCS ”) and Carbon Capture, Utilization and Storage (“ CCUS ”) for Upstream Oil-and-Gas Business Activities. (“ Regulation 2/2023 ”)