Issue link: https://digital.shearman.com/i/1385231
S H E A R M A N & S T E R L I N G L L P | 5 1 F I E L D P O S I T I O N P R E V I O U S LY P R E S C R I B E D U N D E R T H E N E G AT I V E L I ST P O S I T I O N U N D E R T H E N E W P O S I T I V E L I ST Oil & gas construction (platform) Maximum 75% foreign ownership Open Oil & gas construction (onshore upstream oil and gas production installation) 100% domestic investment required Open Oil & gas construction (onshore distribution pipeline) 100% domestic investment required Open Oil & gas construction (onshore distribution pipeline) Maximum 49% foreign ownership Open Oil & gas drilling services (onshore) 100% domestic investment required Open Oil & gas drilling services (offshore) Maximum 75% foreign ownership Open Oil & gas well operation and maintenance services 100% domestic investment required Open Power generation (1-10MW) Maximum 49% foreign ownership Open Power generation (above 10MW) Maximum 95% foreign ownership (maximum 100% foreign ownership in a PPP scheme during concession period) Open Geothermal power generation of 10MW and below Maximum 67% foreign ownership Open Geothermal operation and maintenance services Maximum 90% foreign ownership Open Electricity transmission/electricity distribution Maximum 95% foreign ownership (maximum 100% foreign ownership in a PPP scheme during concession period) Open Construction and installation of electricity installation (extra high and high voltage utilization) Maximum 49% foreign ownership Open Construction and installation of electricity installation (medium and low voltage utilization) 100% domestic investment required Open Electricity installation operation and maintenance Maximum 95% foreign ownership Open 1. These closed industries include narcotics cultivation and manufacturing, gambling and casino operations, fishing of particular fish species, activities relating to coral reefs, chemical weapon manufacturing and ozone-depleting industries. 2. Readers should note that while the original Positive List included 46 fields, President Jokowi's statement at the BKPM press conference of March 2, 2021 has confirmed that three of these fields (relating to alcohol, wine, and malt industries) have been revoked. 3. Readers should note that restrictions under existing regulations may still apply even if they fall under the fourth category to the extent that such regulations do not contradict the text of the Positive List. For example, though mining operations are not specifically referenced in the Positive List (indicating that such activities would be open to 100% foreign investment and ownership), such regulations do not contradict will still be subject to existing regulations such as Law No. 4 of 2009, which requires foreign actors in the mining space to divest at least 51% of their ownership to local shareholders. 4. The International Monetary Fund projects Indonesia's population to increase to 308,000,000 by 2030. Matt Mullarkey A s s o c i a t e Singapore T +65 6230 3005 matt.mullarkey@shearman.com Jean-Louis Neves Mandelli Partner Singapore T +65 6230 3834 jean-louis.nevesmandelli@shearman.com Kanya Satwika P a r t n e r, A s s e g a f H a m z a h & P a r t n e r s Location T +62 21 2555 7807 kanya.satwika@ahp.co.id