Investment realisation in energy sector at $28.2 billion in 2021

14-Jan-2022 Intellasia | AntaraNews | 5:02 AM Print This Post

Investment realisation in the energy and mineral resources sector increased 107 percent to $28.2 billion in 2021 from $26.3 billion in 2020, according to the Ministry of Energy and Mineral Resources (ESDM).

“In 2021, realised investment in the energy and mineral resources sector reached $28.2 billion, or up 107 percent compared to 2020,” ESDM minister Arifin Tasrif said at a press conference on the ministry’s 2021 performance and the 2022 work plan in Jakarta on Wednesday.

The government took several strategic steps to achieve this number, including providing incentives, helping with land disputes, and simplifying the licensing process, Tasrif informed.

The Ministry of Energy and Mineral Resources also encouraged the use of electricity consumption for mineral processing and refining industries or smelters, he added.

The government encouraged smelters not to install their own power plants, but to utilise various electrical resources available at business locations, he said.

“We also did this in special economic areas, industrial areas, and (for) other big customers,” Tasrif added.

In 2020, the realisation of investment in the energy and mineral resources sector amounted to $26.3 billion, with the oil and gas sub-sector accounting for $13.1 billion, electricity $7.6 billion, mineral and coal $4.2 billion, and new renewable energy (EBT) $1.4 billion of the investment, the minister informed.

Last year’s investment realisation was $28.2 billion, contributed by oil and gas (US$15.9 billion), electricity (US$6.8 billion), mineral and coal (US$4.1 billion), and new renewable energy (US$1.4 billion), Tasrif said.

Meanwhile, for 2022, the Ministry of Energy and Mineral Resources is targeting an investment of $32.6 billion, with the target for oil and gas pegged at $17 billion, electricity $7.6 billion, mineral and coal $5 billion, and renewable energy $3 billion, he added.

Non-tax state revenue (PNPB) realisation from the energy and mineral resources sector reached Rp189.2 trillion in 2021, he informed earlier.

“The realisation recorded 156 percent of the initial target of Rp121.2 trillion,” he remarked.

Compared to PNPB realisation in 2020, which reached Rp109 trillion, the revenue in 2021 showed an increase of around 73.6 percent, the minister noted.

The ministry has continued to push PNBP up through a number of attempts, including oil and gas lifting as well as supervision of mineral, coal, and geothermal production, he said.

In 2021, the oil and gas sub-sector had the largest PNBP contribution of Rp103.2 billion, followed by the mineral and coal sub-sector (Rp75.5 billion), he informed.

https://en.antaranews.com/news/209357/investment-realisation-in-energy-sector-at-us282 billion-in-2021

 

Category: Indonesia

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