JAKARTA - The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) reported that until August 2025, the realization of upstream investment in oil and gas (oil and gas) had reached around US$8.9 billion. Just so you know, the investment target of upstream oil and gas in 2025 is set at 16.5 billion to 16.9 billion US dollars
Head of SKK Migas Djoko Siswanto detailed that this figure includes capital expenditure (capex), operational costs (opex), exploration activities, and oil and gas production.
"Our target in 2025 is 16.5 billion to 16.9 billion US dollars. As of August, it has reached around 8.9 billion US dollars," Joko said in a meeting with Commission XII DPR RI, quoted Wednesday, September 24.
Meanwhile, for exploration investment, this year's plan is set at 1.5 billion US dollars. However, until August 2025, the realization of exploration investment has only reached 500 million US dollars. Meanwhile, the realization of exploration investment in 2024 was recorded at 1.3 billion US dollars.
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Djoko said the trend of investment has continued to show an increase in the last five years. He detailed, in 2019, exploration investment was recorded at only 600 million US dollars and increased to 1.3 billion US dollars in 2024.
Meanwhile, the realization of exploration well drilling in 2025 is still below the target. As of August, only 18 wells were taxed out of a total target of 46 wells or 36.9 percent. Meanwhile, projections by the end of the year are estimated to reach 43 wells or around 93.5 percent.
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