In an effort to provide greater legal certainty and boost investment within the upstream oil-and-gas business sector, [1] the Minister of Energy and Mineral Resources (“ Minister ”) has issued Regulation No. 12 of 2020 (“ Third Amendment ”), as the third amendment to Regulation of the Minister No. 8 of 2017 on Gross-Split Production Sharing Contracts (“ Regulation 8/2017 ”). [2] The Third Amendment focuses on the following areas:
Provisions on the Gross-Split Production Sharing Contracts Amended
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