Long Way to Meet the Targeted Upstream Oil and Gas Investment

Summary

The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) revealed that investment in the upstream oil and gas sector until September 2020 had only reached US$7.03 billion or 63.33 percent of this year's target of US$11.1 billion. "The total investment is US$7.03 billion. A total of US$6.91 billion put in the production working area, while US$120 million put in the exploration working area," said SKK Migas’ Acting Head of Program and Communication Susana Kurniasih on Tuesday (10/13).

Even so, Susana said, there has been no revision of the investment target in the upstream oil and gas sector by the end of the year. This year's investment target includes exploration activities of US$317 million, development activities of US$1.07 billion, production activities of US$5.03 billion, and administration of US$483 million. Previously, SKK Migas targeted upstream oil and gas investment in 2020 to reach US$13.83 billion. The target was adjusted following global oil price pressures and the impact of the COVID-19 pandemic.

Start your free trial.

If you would like to get a 30-day free unlimited access to all of our insights, please click “Start free trial” button below. If you already have an account, please login.

What do subscribers receive?

As a subscriber, you’ll receive daily insights, weekly business digests, and bimonthly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Enjoy a 30-day free trial, on us. Feel free to contact us with any additional questions you have.