SKK Migas Records USD1.9 Billion Upstream Investment Realization in Q1 2017

Annisa ayu artanti    •    07 April 2017 15:47 WIB
energy
SKK Migas Records USD1.9 Billion Upstream Investment Realization in Q1 2017
Illustration (Photo: Antara/Zabur Karuru)

Metrotvnews.com, Banten: The Upstream Oil and Gas Special Task Force (SKK Migas) has revealed that upstream oil and gas investment realization reached USD1.9 billion last quarter.

"Investment realization reached USD 1.9 billion," SKK Migas Secretary Budi Agustyono said in Banten on Friday.

Production blocks contributed USD1.8 billion. Meanwhile, exploration blocks only contributed USD0.1 billion.

The investment realization was influenced by weak global prices. Moreover, the investment realization was also affected by slow contract negotiations.

SKK Migas is aiming to achieve upstream oil and gas investment realization of USD13.8 billion in 2017.



(WAH)