Indonesian state revenues up from energy and mineral resource sector

Indonesian state revenues up from energy and mineral resource sector

Jero Wacik. (ANTARA/Wahyu Putro A.)

Jakarta (ANTARA News) - The Indonesian state revenues form the energy and mineral resource sector is estimated to reach Rp415.2 trillion this year up from Rp387 trillion last year.

Energy and Mineral Resource Minister Jero Wacik said the revenues are 3 percent higher than the target of Rp404.68 trillion as set in the 2012 state budget.

The sub-sector of oil and gas remains the largest contributor to the total income from the sector, Wacik said here on Wednesday.

Oil and gas revenues are estimated to contribute Rp289 trillion, exceeding the target set in the state budget by 4 percent, he said.

He said general mining including coal, gold, nickel and silver, etc. accounted for the rest.

He said the energy and mineral resource sector is a major target of foreign investment drawing US$28.34 billion in foreign direct investment this year.

Investments in oil and gas alone were worth US$18.21 billion, in electric sub-sector US$5.62 billion, in coal and minerals US$4.20 billion and in new energy US$310 million.

The country`s crude oil production averaged 860,000 barrels per day falling short of the target of 930,000 barrels per day.

Gas production is 8,196 MMSCFD or 92 percent of the target set in the state budget.

The price of Indonesian crude oil averaged US$112.7 per barrels from January to Dec 24. exceeding the target of US$105 per barrel set for this year.

In 2013, the price of Indonesian crude oil is predicted to average US$100 per barrel.
(Uu.AS/bH-ASG/B003)

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