Investment in upstream oil, gas seen higher in 2012
Monday, April 9 2012 - 01:20 AM WIB
By Bernad Loebs
Director General for Oil and Gas at the Energy and Mineral Resources Ministry Evita H. Legowo said her office expects investment in upstream oil and gas industry would rise to US$ 21.536 billion this year from US$ 15.805 billion last year.
While, investment in downstream oil and gas sector is expected to reach US$ 2.421 billion, slightly higher from last year?s actual investment of US$2.315 billion, she said.
Evita added the government plans to tender out 30 conventional oil and gas working areas (WK) this year and 15 non-conventional WKs, including coal bed methane (CBM) areas.
Editing by Roffie Kurniawan