Oil and gas realized investment $3.35 billion

The government said on Thursday that realized investment in the oil and gas sector in the first quarter of this year reached US$3.35 billion, comprising of $2.9 billion worth of upstream investment and $492 million downstream investment.

?Realized investment in the oil and gas sector has so far only reached 19.36 percent of this year?s target of $16 billion,? Minister of Energy and Mineral Resources Purnomo Yusgiantoro told the House of Representatives? Commission VII, which oversees energy issues during a hearing session on Thursday.

Meanwhile, investment in the mineral, coal mining, and geothermal sectors during the same period reached $251.43 million. In the electricity sector, investment totaled $1.78 billion. Investment in renewable energy has yet to be realized, Purnomo said. (bernard)