Indonesia plans to set up new oil and gas regulation unit

JAKARTA Wed Nov 14, 2012 12:44am EST

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JAKARTA Nov 14 (Reuters) - Indonesia's energy ministry plans to set up a unit to take over the duties of energy sector regulator BPMigas, which was dismantled by a constitutional court ruling, the deputy minister said on Wednesday.

Rudi Rubiandini, deputy minister in the Energy and Mineral Resources Ministry, told Reuters any dealings with the oil and gas industry would be suspended until the unit is established.

The new Unit for the Implementation of Upstream Oil and Gas Activity was aimed at ensuring "there is no vacuum period or uncertainty for investors in the management of oil and gas industry players", Rubiandini added.

BPMigas managed contracts with energy majors such as Chevron , Exxon Mobil and CNOOC in Southeast Asia's largest economy.

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