Journal of Social Science
Vol. 5 No. 6 (2024): Journal of Social Science

Legal Vacuums in the Management of State Assets from Upstream Oil and Gas Cooperation Contracts

Sumartono Sumartono (Faculty of Law, Universitas Borobudur, Indonesia)
Faisal Santiago (Faculty of Law, Universitas Borobudur, Indonesia)

Article Info

Publish Date
28 Dec 2024

Abstract

This research examines legal vacuums in the management of state assets derived from Cooperation Contracts (KKKS) in the upstream oil and gas sector in Indonesia. Despite a legal framework established by Law No. 22 of 2001 and Government Regulation No. 35 of 2004, field practices reveal discrepancies between regulations and implementation, leading to difficulties in the recording and reporting of assets, as well as the determination of depreciation values and operational costs. The impact of this legal vacuum not only affects state revenue and transparency but also has significant social and economic implications. Through case study analysis, this research suggests improvements to existing regulations, capacity building for KKKS, and strengthening oversight mechanisms to optimize the management of state assets in the upstream oil and gas sector.

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Journal Info
Journal of Social Science
Website

Abbrev

jsss

Publisher

Syntax Corporation Indonesia

Subject

Religion Humanities Education Environmental Science Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Social Sciences Other

Description

The Journal of Social Science provides a means for sustained discussion of relevant issues that fall within the focus and scopes of the journal which can be examined empirically. The journal publishes research articles covering all aspects of social sciences, ranging from Management, Economics, ...