Indonesia expects investment in energy, mineral resources to rise further

Indonesia expects investment in energy, mineral resources to rise further

Energy and mineral resources minister Jero Wacik (ANTARA/Andika Wahyu)

Jakarta (ANTARA News) - Indonesia expects investment in the energy and mineral resources to rise further to US$38.94 billion this year.

Energy and mineral resources minister Jero Wacik said here on Monday "in 2012 investment in the sectors rose to US$33.7 billion and this year it is expected to rise further to US$38.9 billion."

He said last year`s hike from the previous year was proof that Indonesia was really attractive for investment.

"It is proof how attractive is Indonesia in the eyes of both national and foreign investors," he said.

The minister admitted that there were still cases hindering investment but in general the investment situation was good as reflected by the inflow of foreign investment that reached US$33.7 billion in 2012.

Investment in the energy sectors include oil, natural gas, minerals, coal and renewable energy sources.

Last year, he said, BP from Britain decided to increase its investment in Indonesia to US$12 billion to develop its field in Tangguh, Papua.

Chevron from the US meanwhile had also expressed its commitment to increasing its investment by US$10 billion to develop its natural gas fields, he said.

Eramec from France also would start its new investment project worth US$5 billion, he added.

(H-YH/A014)

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