The Impact of Upstream Oil and Gas Investment on Petroleum Production in Indonesia
Valiant Cikita Mitakda
*
Universitas Pembangunan Nasional “Veteran” Yogyakarta, Indonesia.
Harry Budiharjo S
Universitas Pembangunan Nasional “Veteran” Yogyakarta, Indonesia.
E. Diah Lufti W
Universitas Pembangunan Nasional “Veteran” Yogyakarta, Indonesia.
*Author to whom correspondence should be addressed.
Abstract
This study aims to analyze the problem of whether upstream oil and gas investment will affect petroleum production or vice versa. The data used is Time series data using upstream oil and gas investment data in 2010-2020 and petroleum production data in 2010-2020 sourced from the Ministry of Energy and Mineral Resources (ESDM). The research method used in this study is a quantitative research method with a granger causality test analysis tool. The results showed that there is a one-way relationship between upstream oil and gas investment and petroleum production in Indonesia which concluded that it is necessary to increase upstream oil and gas investment to increase petroleum production in Indonesia.
Keywords: Upstream oil and gas investment, oil production and fical term
How to Cite
Downloads
References
Ariyon, M. Oil and Gas Policy Study in Indonesia. Journal of Earth, Energy, Engineering,. Indonesia. 2012;38-31
Gujarati DN. Fundamentals of Econometrics. Jakarta: Salemba Empat; 2013.
Paramita R. Problems and Challenges of Increasing Investment in the Upstream Oil and Gas Industry; 2022.
Hilly M, Adams ML, Nelson SC. A study of digit fusion in the mouse embryo. Clin Exp Allergy. 2002;32(4):489-98.
Budget Journal. 7(2), 181-202. Indonesia
Sugiyono. Quantitative, Qualitative and R&D Research Methods. Bandung: Alphabeta; 2012.
JDIH CPC . Comparison of Cost Recovery Production Sharing Contract (PSC) with Gross Split PSC; 2022. Available: jdih.bpk.go.id
Ministry of Energy and Mineral Resources. Minister of Energy and Mineral Resources Regulation Number 08 of 2017 concerning Gross Split Production Sharing Contracts; 2017. Available:https://migas.esdm.go.id/post/read/permen-esdm-nomor-08-tahun-2017-tangan-contract-bagi-hasil-gross-split
KPPU. Upstream Oil and Gas Sector Research; 2019. Available:https://kppu.go.id/wp-content/ uploads/2020/07/Abstrak-Hulu-Migas 2019.pdf
Indonesian Information Portal. (2024, January 18). Konclong Oil and Gas Investment Performance. Available:https://www.indonesia.go.id/detik/editorial/7906/kinerja-investasi-migas-kinclong?lang=1
Prime AP. Large Investment Needed to Accelerate Oil and Gas Production; 2023. Available:https://www.kompas.id/baca/ Ekonomi/2023/09/20/investasi-meningkat-tapi-sederet-tantangan-mengadang