Oil and gas investment reached $6.88 billion in four months

Investment in the oil and gas sector reached US$6.88 billion as of end-April, compared with the annual target of $25.44 billion.

Investment target for this year was lower compared that that of last year, which stood at $27.20 billion. Realized investment of last year stood at $19.34 billion, Minister of Energy and Mineral Resources Jero Wacik said during a hearing with the House of Representatives recently.

As of April 2014, the state revenue from all industries under the supervision of the ministry ? oil, gas and mining -- reached Rp 137.37 trillion, including Rp 86.56 trillion from the oil and gas sector. Oil ad gas revenue target for this year amounts to Rp 286.03 trillion, while revenue target from all industries under the supervision of the ministry amount to Rp 445.01 trillion.

Oil and gas revenue target for this year is slightly lower than that of last year, which was Rp 267.12 trillion. Realized revenue from the oil and gas sector was above target, reaching Rp 305.57 trillion.

Editing by Johannes Simbolon