Indonesia Ensuring Stability in the Oil and Gas Industry

Authorities in the upstream oil and gas sector express confidence in the sustainability of the fossil energy industry in the country, underscored by the confirmation of hundreds of projects slated for completion by 2029.

Stepanus I Nyoman A. Wahyudi

4 Jul 2024 - 17.36
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Indonesia Ensuring Stability in the Oil and Gas Industry

Offshore oil and gas platform. (SKK Migas)

Bisnis, BATAM — Authorities in the upstream oil and gas sector express confidence in the sustainability of the fossil energy industry in the country, underscored by the confirmation of hundreds of projects slated for completion by 2029.

The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) disclosed that 113 upstream projects are scheduled for development over the next five years. These projects exclude national strategic projects (PSN), which receive focused government attention.

Head of SKK Migas Dwi Soetjipto announced that the upcoming hundreds of upstream oil and gas projects scheduled until 2029 are expected to attract investments totaling at least $3.76 billion. This commitment aims to bolster national lifting.

"By 2029, the upstream oil and gas sector will embark on 113 projects with a combined investment of $3.76 billion or approximately IDR 58 trillion," he stated during the opening of the 2024 Pre-IOG Supply Chain Management (SCM) Summit in Batam, Wednesday (3/7).

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