Oil and Gas Investment Target Increased

From: Tempo Interactive

TEMPO Interactive, Jakarta:The government is targeting investment in the oil and gas industry this year to increase US$ 15.98 trillion to reach a production target of 965,000 barrels per day.

The Financial Note and draft 2010 State Budget, which have been proposed by the government to the House of Representatives showed that the total investment is composed of an investment target of US$13.6 trillion in the upstream sector and of US$2.4 trillion in the downstream sector.

According to the financial note, last year investment’s target for the oil and gas sector was not achieved.

Up until 30 December 2009, the investment realization in this sector only reached US$12.2 trillion, some US$1.6 trillion less than the target of US$13.8 trillion.

AGOENG WIJAYA

TEMPO/Oil and Gas Investment Target Increased