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Monday 7 September 2009Local shipbuilders to benefit from oil and gas sector needs
The local shipbuilding industry expects its currently idle shipping capacity, which has now reached about 50 percent, to be fully exploited under a new government rule that requires the oil and gas sector to rely on Indonesian vessels for its shipping needs.
Industry Ministry director for maritime and engineering Soerjono, who like many Indonesian uses only one name, has said the new rule would allow the industry to recover next year from the negative impacts of the financial crisis which started to hit the industry in the second half of last year.
Soerjono said under the new rule, production sharing contractors in the oil and gas sector could reclaim expenses made for renting vessels to support their operations as long as the vessels were constructed in Indonesia.
He further explained that these shipping expenses would be eligible items as part of the oil and gas cost recovery scheme to be reimbursed by the government on the approval of the upstream oil and gas regulator BPMigas.
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