Sanur, Bali, Oct. 27 -- The Indonesian Ministry of Energy and Mineral Resources is drafting new regulations to accelerate oil and gas exploration across 67 untapped frontier basins nationwide with more favorable investment terms.

Coordinator for the Development of Conventional Oil and Gas Working Areas at the Ministry's Directorate General of Oil and Gas, Ivan, announced that the upcoming rules will offer significantly more attractive terms for investors.

"To accelerate exploration across these 67 frontier basins, the government is drafting new regulations," Ivan said during the 51st ASEAN Council on Petroleum and Energy (ASCOPE) meeting in Bali, on Monday (October 26).

Under the proposed framework, the government plans to flexibly adj...