Indonesia to vastly up oil and gas exploration amid high prices

(The Jakarta Post) PREMIUM Jakarta ● Thu, January 26 2023 The government is targeting a massive increase in oil and gas exploration this year to boost the country's production and supply, banking on the much improved financial positions of the sector's firms, driven by last year's surge in crude oil prices. The estimated target for exploratory drilling has been increased to 57 wells, almost double the 30 exploratory wells drilled last year and marking steady expansion over the past five years, according to data from the Upstream Oil and Gas Regulatory Task Force (SKK Migas). Meanwhile, exploratory investment is projected to rise to US$1.7 billion in 2023, more than double the $800,000 in realized investments last year. to Read Full Story SUBSCRIBE NOW Starting from IDR 55,500/month Unlimited access to our web and app content e-Post daily digital newspaper No advertisements, no interruptions Privileged access to our events and programs Subscription to our newsletters We accept Register to read 3 premium articles for free Already subscribed? login Or let Google manage your subscription

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