Indonesian Petroleum Association Held its 48th Annual General Meeting
The Indonesian Petroleum Association (IPA) held its 48th Annual General Meeting (AGM) in Jakarta on Wednesday December 4, 2019. The AGM discussed IPA’s 2019 activities as well as 2020 strategic priorities.
Additionally, the IPA also presented the changes to its Supervisory Board and the Board of Directors for the 2020 period. The Supervisory Board now will be led by Kuntoro Mangkusubroto whose many achievements include Minister of Mines and Energy from 1998 to 1999 as well as Head of President’s Delivery Unit for Development Monitoring and Oversight (UKP-PPP) from 2009 to 2014. Meanwhile, the President of ExxonMobil Cepu Limited, Louise McKenzie, will serve as the President of IPA for the 2020 period accompanied by 12 other oil and gas company leaders who are the IPA Board of Directors.
“It is an honor to be elected IPA President for 2020. The IPA strives to continue the strategic partnership with the Government and stakeholders to ensure we can attract more investment, encourage exploration, increase production, and further strengthen global competitiveness of Indonesia’s upstream oil and gas sector while striving to enhance the communities where we operate,” said Louise McKenzie, IPA President.
IPA members produce most of the Indonesia’s oil and gas, and across Indonesia, our investments also generate significant multiplier effects such as jobs, taxes, community development, as well as growth of various industries and local businesses.
In the past five years of President Jokowi’s administration, the IPA has seen many accomplishments from the Government of Indonesia in implementing pro-growth regulatory initiatives and are pleased to see the continued focus on the energy sector and energy policy. The recent focus on simplified permits and regulations, including the oil and gas data open access by the ESDM Ministry, and further efforts to enhance coordination between ministries and with local governments, are continued steps in the right direction.
“IPA appreciates the government’s continued accessibility and willingness to work with industry. Maintaining this sense of partnership is critical if we are to jointly develop world class resource projects.” Louise added.
Indonesia’s proven oil and gas reserves are globally significant. Moreover, studies suggest that half of the basins in Indonesia are yet to be fully explored. There is more that can be done to find and develop the necessary resources to fuel Indonesia’s economic growth.
“If we work together to ensure the right risk-reward balance, ensure contract sanctity and regulatory stability, then we will develop the resources for Indonesia’s energy future.” Louise closes.