State Minister: SKK Migas Must Address Declining Oil and Gas Production

24 November 2022 13:37 WIB

TEMPO.CO, Nusa Dua - Coordinating Minister of Economics Airlangga Hartarto had requested the Upstream Oil and Gas Regulatory Task Force (SKK Migas) to respond to the declining national oil and gas production. One of which, the Minister suggested, is to maintain the investment climate and offer better incentives.

“SKK Migas needs to take steps to improve the investment climate and the incentives,” said Airlangga in a video aired at the 3rd International Convention on Indonesian Upstream Oil and Gas 2022 held in Bali on November 24.

He said the government had aimed to reach oil production of 1 Million barrels of oil equivalent per day (MBOEPD) and gas production of 12 billion standard cubic feet per day (BSCFD) by 2030. 

"But production continues to decline,” he added.

In addition, he also believes the government must also encourage the energy transition that leads to new and renewable energy. He argues that it is a necessity that must be faced together to help maintain investment in upstream oil and gas.

MOH KHORY ALFARIZI

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