Indonesia targets oil, gas investment to reach 17 bln USD in 2022

Jakarta (Indonesia Window) – The Indonesian Ministry of Energy and Mineral Resources (ESDM) has targeted the oil and gas investment in 2022 to reach 17 billion U.S. dollars, up 1.13 percent compared to that set in 2021 of 16.81 billion U.S. dollars.

The target consists of upstream oil and gas worth 12.87 billion dollars and downstream oil and gas of 4.13 billion dollars, Director General of Oil and Gas of  the Ministry of Energy and Mineral Resources Tutuka Ariadji said in an online press conference here on Wednesday (Jan. 19).

The largest investment in the upstream oil and gas sector comes from production worth 8.2 billion dollars, development of 2.36 billion dollars, and exploration of 1.3 billion dollars.

Meanwhile, the realization of oil and gas investment in 2021 reached 15.9 billion dollars, or 94.58 percent of the target amounting to 16.81 billion dollars.

Reporting by Indonesia Window