Indonesia to invest 17.59 billion USD in oil and gas industry
The Indonesian government will invest 246.26 trillion rupiah (17.59 billion USD) to implement upstream and downstream oil and gas projects in 2021, Director General of Oil and Gas at the Ministry of Energy and Mineral Resources Tutuka Ariadji said on January 18.
Illustrative image (Photo: https://jakartaglobe.id/)
The amount of investment in upstream oil and gas projects is 2.1 billion USD higher than the figure of 10 billion USD in 2020. Meanwhile, investment in downstream projects is to rise to 5.2 billion USD from only 1.8 billion USD in 2020.
Ariadji said the government will continue to cooperate with businesses to build oil refineries, while continuing to simplify the licensing for downstream oil and gas exploitation, encourage the development of integrated oil and gas infrastructure and support the conversion of diesel oil to natural gas./.
VNA
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