Ministry Of Energy And Mineral Resources Will Do This To Prevent Oil And Gas Giants Such As Shell, Chevron, Etc. From Leaving Indonesia

Illustration. (Photo: Doc. Antara)

JAKARTA - The Ministry of Energy and Mineral Resources has responded to the news of the departure of the world's giant oil and gas companies such as Shell, Chevron, and ConocoPhillips by making a number of policies to prevent this from happening.

Director-General of Oil and Gas (Dirjen Migas), Tutuka Ariadji explained that his party had started offering 12 oil and gas working areas (WK/Blocks) in 2022.

"We have started to adjust the terms and conditions, namely 80 for the state and 20 for KKKS," he said, Wednesday, January 19.

For this reason, this year the government is targeting oil and gas investment of US$ 17 billion, which is set higher than the realization of oil and gas investment in 2021 which is worth US$ 15.9 billion.

He detailed, upstream investment of 12,872 billion US dollars for production of 8.2 billion US dollars, development of 2.36 billion US dollars and exploration of 1.3 billion US dollars. Meanwhile for downstream, US$4.128 billion will be distributed.

Based on data from the Ministry of Energy and Mineral Resources, it is recorded that the realization of oil and gas investment in 2021 is worth 15.9 billion US dollars or 94.58 percent of the 2021 target, which is 16.81 billion US dollars.