SKK Migas Reports State Revenue From Upstream Oil And Gas Sector Reaches 12.7 Billion US Dollars

Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Djoko Siswanto. (Photo: Doc. ANTARA)

JAKARTA - Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Djoko Siswanto reported, until October 31, 2024, state revenues from the upstream oil and gas sector had reached 12.7 billion US dollars.

This figure, said Djoko, almost touched the target set by SKK Migas in early 2024, which amounted to 12.9 billion US dollars

"Alhamdulillah, the proudest thing is state revenue from the target of 12.9 billion US dollars, we have reached 12.7 billion US dollars in October," he said at a Hearing Meeting (RDP) with Commission XII in Jakarta, Monday, November 18.

He estimated that by the end of the year, the upstream oil and gas sector revenue could reach 14 billion US dollars.

"Alhamdulillah, we have an outlook that by the end of the year state revenues could even reach the figure above 14 billion US dollars," continued Djoko.

Furthermore, Djoko added, in terms of investment, until October 31, 2024, it had reached 10.3 billion US dollars from the 2024 investment target of 17.7 billion.

"We hope that by the end of the year it can reach 16 billion US dollars," he added.

Despite recording fantastic achievements, Djoko said the biggest challenge faced by SKK Migas was the oil and gas lifting which was still below the SKK Migas target.

However, he stressed, SKK Migas together with the Ministry of Energy and Mineral Resources have planned a number of strategies to curb the decline in lifting and boost the achievement of domestic lifting.

"Together with the Ministry of Energy and Mineral Resources, we have prepared a number of steps to minimize the gap between the target and the realization of lifting," said Djoko.