The government has promised additional incentives for investors who wish to develop deep sea oil and gas projects.

Evita Herawati Legowo, Oil and Gas director-general of the Energy and Mineral Resource Ministry, said the incentive offered is, among others, in the form of proportional sharing system between the government and the oil and gas contractors.

The figures proposed by the government are different from the ones offered for field and land oil and gas projects. Evita said the proportion for oil and gas projects on land in 15:85 percent while deep sea projects may be offered up to 65:36 percent proportion for the government and the contractors, respectively. “Depending of geological condition,” said Evita on Wednesday.

Source: Tempo