JAKARTA. The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) is targeting investment in the upstream oil and gas sector to reach US$ 13.8 billion this year, lower than the target in 2019 of US$ 14.7 billion.
The target is set considering the realization of investment data in the upstream oil and gas sector in 2019 which did not reach the target. Last year, SKK Migas said that investment in the upstream oil and gas sector only reached US$ 11.49 billion.
In addition to the investment efficiency, SKK Migas said the investment acquisition in 2019 was caused by the absence of large investments. Like the investment transition of PT Pertamina (Persero) in the Rokan Block. "It turns out that (Pertamina's investment) cannot be done in 2019," explained Dwi Soetjipto, Head of SKK Migas, as quoted by Kontan.
SKK Migas projects that Pertamina will immediately start investing and drilling in the Rokan Block at the beginning of this year. "It is hoped that in January it can be finished. So that 72 wells can be drilled, "explained Soetjipto. (KR/AR)