Govt. Introduces Greater Flexibility for Oil-and-Gas Contractors Operating under Gross-Split Production Sharing Contracts

In response to the reluctance of oil-and-gas contractors (“Contractors”) to engage in upstream oil-and-gas business activities under the newly introduced Gross-Split Production Sharing Contract, the Ministry of Energy and Mineral Resources (“Ministry”) has finally issued Regulation No. 52 of 2017 (“Amendment”), which amends Ministry Regulation No. 8 of 2017 on Gross-Split Production Sharing Contracts (“Regulation 8/2017”). [1] The Amendment introduces several changes which relate to the implementation of Gross-Split Production Sharing Contracts (“GS-PSC”) and which address the  following matters: