Jakarta — President Joko Widodo delivered his speech at the opening of the 42nd Indonesian Petroleum Association Conference and Exhibition 2018 (The 42nd IPA Convex) on Wednesday, 2 May 2018 in Jakarta.

The president said that the oil and gas industry had existed for 120 years. In the Industrial Revolution 2.0, the oil and gas industry made the petroleum commodity as the base of the new industry era. Oil and gas was a supporting energy for various sectors.

“Renewable energy continues to increase, and the current global use of electric vehicles reduces a demand of 279,000 barrels of oil per day. However, oil and gas will remain needed in the years to come,” President Joko Widodo added.

The President also said that now we are entering an era of the Industrial Revolution 4.0 and in 2018 there is only one oil and gas company listed in 10 companies with the largest capital worldwide.

“Meanwhile, in 2010 there were five oil and gas companies in the list of 10 companies with the largest capital worldwide,” he continued.

The President explained that oil and gas regulations in Indonesia are not favorable for investors. The regulations in the oil and gas sector should be further streamlined to facilitate oil and gas sector investors to invest in Indonesia.

The President expected that One Single Submission (OSS) can be realized by next month. The OSS will make it easier for people to apply for a license in one building, and there will no longer be a need to go to several ministries to obtain a license.

“We invite bright young people to join the oil and gas sector. Oil and natural gas will remain the basis of a new industry era. Investment requirements will be made easier by removing 186 permits. Licensing will be processed in one building, while registration in the region can be processed in the central office,”. President Joko Widodo added.

SKK Migas hopes that the authorities can take firm action against illegal oil mining perpetrators. In addition, the community is also expected to help spreading the understanding that this activity is against the law and is harmful.