Position of the Indonesian Government in Profit Sharing Contract Ability of the Indonesian Government to Use its Sovereignty Over Its Natural Resources in Renegotiating Terms Under Profit Sharing Contract
The oil and gas is considered as a strategic business sector in Indonesia. Many investors both local and foreign are interested to invest in this sector. Nevertheless many still sees that there is no legal certainty for investors. As a developing country Indonesia tend to amend and introduce new law...
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[Yogyakarta] : Universitas Gadjah Mada
2013
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id-ugm-repo.1254002016-03-04T08:40:08Z https://repository.ugm.ac.id/125400/ Position of the Indonesian Government in Profit Sharing Contract Ability of the Indonesian Government to Use its Sovereignty Over Its Natural Resources in Renegotiating Terms Under Profit Sharing Contract , MARAL BIMANTI JUBILINE DIPODIPUTRO , Prof. M. Hawin S.H., LL.M, PhD. ETD The oil and gas is considered as a strategic business sector in Indonesia. Many investors both local and foreign are interested to invest in this sector. Nevertheless many still sees that there is no legal certainty for investors. As a developing country Indonesia tend to amend and introduce new laws and regulations, and expect all investors to respect and follow it. In many Middle East and South American Countries this action done by Indonesia is called act of nationalization. To many developing countries (where most natural resources are found) the government is given full control over the natural resources, and to several of them this power supersede any obligations, including contractual obligations. This is why countries such as Venezuela nationalize many oil fields from foreign investors. Many begins by requesting amendments to their concluded contract (renegotiation), when they reached into a dispute and went to arbitration proceedings, the Host State would argue that such amendments is necessary due to change of national interest, with this usually the Host State will then pay compensation to the investor and take over the whole oil fields. The possibility of using nationalization to amend terms under profit sharing contract (PSC) is the main issue discussed in this paper. If many developing countries use nationalization, this paper evaluate whether Indonesia have the ability to conduct the same action. However before this, the paper also tries to look at the position of Indonesia when it enters into PSC. Considering that it is a State Indonesia might owns sovereignty over its natural resources, it might own certain privileges. In finding the answer this legal research evaluate the concept: of PSC [Yogyakarta] : Universitas Gadjah Mada 2013 Thesis NonPeerReviewed , MARAL BIMANTI JUBILINE DIPODIPUTRO and , Prof. M. Hawin S.H., LL.M, PhD. (2013) Position of the Indonesian Government in Profit Sharing Contract Ability of the Indonesian Government to Use its Sovereignty Over Its Natural Resources in Renegotiating Terms Under Profit Sharing Contract. UNSPECIFIED thesis, UNSPECIFIED. http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=65568 |
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ETD , MARAL BIMANTI JUBILINE DIPODIPUTRO , Prof. M. Hawin S.H., LL.M, PhD. Position of the Indonesian Government in Profit Sharing Contract Ability of the Indonesian Government to Use its Sovereignty Over Its Natural Resources in Renegotiating Terms Under Profit Sharing Contract |
description |
The oil and gas is considered as a strategic business sector in Indonesia. Many
investors both local and foreign are interested to invest in this sector. Nevertheless
many still sees that there is no legal certainty for investors. As a developing
country Indonesia tend to amend and introduce new laws and regulations, and
expect all investors to respect and follow it. In many Middle East and South
American Countries this action done by Indonesia is called act of nationalization.
To many developing countries (where most natural resources are found) the
government is given full control over the natural resources, and to several of them
this power supersede any obligations, including contractual obligations. This is
why countries such as Venezuela nationalize many oil fields from foreign
investors. Many begins by requesting amendments to their concluded contract
(renegotiation), when they reached into a dispute and went to arbitration
proceedings, the Host State would argue that such amendments is necessary due to
change of national interest, with this usually the Host State will then pay
compensation to the investor and take over the whole oil fields.
The possibility of using nationalization to amend terms under profit sharing
contract (PSC) is the main issue discussed in this paper. If many developing
countries use nationalization, this paper evaluate whether Indonesia have the
ability to conduct the same action. However before this, the paper also tries to
look at the position of Indonesia when it enters into PSC. Considering that it is a
State Indonesia might owns sovereignty over its natural resources, it might own
certain privileges.
In finding the answer this legal research evaluate the concept: of PSC |
format |
Theses and Dissertations NonPeerReviewed |
author |
, MARAL BIMANTI JUBILINE DIPODIPUTRO , Prof. M. Hawin S.H., LL.M, PhD. |
author_facet |
, MARAL BIMANTI JUBILINE DIPODIPUTRO , Prof. M. Hawin S.H., LL.M, PhD. |
author_sort |
, MARAL BIMANTI JUBILINE DIPODIPUTRO |
title |
Position of the Indonesian Government in Profit Sharing Contract Ability of the Indonesian Government to Use its Sovereignty Over Its Natural Resources in Renegotiating Terms Under Profit Sharing Contract |
title_short |
Position of the Indonesian Government in Profit Sharing Contract Ability of the Indonesian Government to Use its Sovereignty Over Its Natural Resources in Renegotiating Terms Under Profit Sharing Contract |
title_full |
Position of the Indonesian Government in Profit Sharing Contract Ability of the Indonesian Government to Use its Sovereignty Over Its Natural Resources in Renegotiating Terms Under Profit Sharing Contract |
title_fullStr |
Position of the Indonesian Government in Profit Sharing Contract Ability of the Indonesian Government to Use its Sovereignty Over Its Natural Resources in Renegotiating Terms Under Profit Sharing Contract |
title_full_unstemmed |
Position of the Indonesian Government in Profit Sharing Contract Ability of the Indonesian Government to Use its Sovereignty Over Its Natural Resources in Renegotiating Terms Under Profit Sharing Contract |
title_sort |
position of the indonesian government in profit sharing contract ability of the indonesian government to use its sovereignty over its natural resources in renegotiating terms under profit sharing contract |
publisher |
[Yogyakarta] : Universitas Gadjah Mada |
publishDate |
2013 |
url |
https://repository.ugm.ac.id/125400/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=65568 |
_version_ |
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