JAKARTA. The investment value originating from the Energy and Mineral Resources (ESDM) sector throughout 2023 reached US$30.3 billion, according to data from the Ministry of Energy and Mineral Resources.

The investment value in 2023 increased by 11% from the previous year. In 2022, total investment from the ESDM sector was recorded at US$27 billion.

Arifin Tasrif, Minister of Energy and Mineral Resources, said that the oil and gas sector was still the main contributor to investment in 2023. "The oil and gas sector still dominates investment amounting to US$15.6 billion," said Tasrif, at a press conference in Jakarta today.

Meanwhile, the contribution of the mineral and coal (minerba) sector, said Tasrif, contributed as much as US$7.46 billion in 2023. Then the renewable energy and energy conservation sectors contributed US$1.5 billion and the electric power sector US$5.8 billion.

Tasrif explained that investment growth in the ESDM sector in 2023 was supported by national and global economic recovery from the Covid-20 pandemic. "This high spike occurred in 2023," said Tasrif.

For the record, the Indonesian government is targeting investment from the ESDM sector to reach US$28.2 billion by 2024. (KR/LM)