SKK Migas Reports Record US$51.3 Billion in Upstream Oil and Gas Procurement
SKK Migas reported a record procurement value of US$51.353 billion for upstream oil and gas activities, driven by major projects such as the Onshore LNG Inpex Masela and the Indonesia Deepwater Development by ENI. This unprecedented investment is expected to generate hundreds of thousands of jobs and reflects renewed interest in the sector. Additionally, SKK Migas plans to enhance transparency and efficiency in managing tenders with the upcoming launch of the Centralized Integrated Vendors Database.
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The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) announced a historic high in procurement value for upstream oil and gas, reaching US$51.353 billion. Djoko Siswanto, Head of SKK Migas, highlighted that this figure marks the highest procurement value ever recorded.
The significant investments this year are largely attributed to two major projects: the Onshore LNG Inpex Masela and the Indonesia Deepwater Development (IDD) project by ENI. The high investment levels are expected to create hundreds of thousands of jobs, emphasizing the upstream oil and gas sector's role as an economic driver. Djoko confirmed ongoing interest in the sector, which was previously thought to be in decline, and indicated that SKK Migas is preparing to enhance transparency and efficiency in managing tenders through the Centralized Integrated Vendors Database (CIVD SKK Migas) set to launch next week.
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