The government has set an investment target of the oil and gas sub-sector (oil and gas) this year at US $ 17.59 billion or approximately IDR 246.26 trillion (exchange rate of IDR 14.00 per US dollar) which will be contributed from the upstream and downstream sectors.
Director-General of Oil and Gas at the Ministry of Energy and Mineral ReSources (ESDM), Tutuka Ariadji, said that investment this year has increased quite sharply. Meanwhile, last year the investment target was set at only US $ 13.63 billion.
Tutuka explained that investors from the upstream oil and gas sector are projected to increase by around US $ 2.10 billion from US $ 10 billion last year. Meanwhile, the downstream sector is projected to increase to US $ 5.20 billion compared to US $ 1.8 billion from last year.