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Promoting investment in upstream oil & gas sector to achieve 1 million bopd and 12 bscfd
A favorable investment climate is one of the supporting factors for the success of achieving the production target of 1 million barrels of oil per day (BOPD) and 12 billion standard cubic feet of gas per day (BSCFD) in 2030, which has been set by the Indonesian upstream oil and gas sector.
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favorable investment climate is one of the supporting factors for the success of achieving the production target of 1 million barrels of oil per day (BOPD) and 12 billion standard cubic feet of gas per day (BSCFD) in 2030, which has been set by the Indonesian upstream oil and gas sector. Investors are needed to help boost national oil and gas production, as well as optimize oil and gas reserves that have not been exploited and used to meet national energy demand.
The Upstream Oil and Gas Regulatory Special Task Force (SKK Migas), together with the Energy and Mineral Resources Ministry and the Finance Ministry, continue efforts to increase investment in the upstream oil and gas sector, including by improving regulations, simplifying licensing and providing attractive incentives. Nevertheless, there is still much room for improvement in the upstream oil and gas sector to improve the investment climate in Indonesia.
Through the 2020 International Convention on Indonesian Upstream Oil & Gas (IOG 2020), SKK Migas will discuss with all of the stakeholders of the upstream oil and gas industry the efforts that are required to achieve the target of 1 million BOPD and 12 BSCFD in 2030. Measures that are required to improve investment climate and attract investors to Indonesia will be one of the main topics of discussion in the convention that will be held from Dec. 2 to 4, 2020. As many as 7,000 participants, both domestic and overseas, will attend the convention to be held virtually, and open to the public.
