JAKARTA - The government targets oil and gas investment to reach US$14.786 billion in 2008, higher than a year earlier, Energy and Mineral Resources said in a presentation to the parliament's Comission VII in Jakarta on Monday (06/30).

Investment in the oil and gas sector reached US$ 11.179 billion in 2007, comprising US$10.737 billion in the upstream and US$442.6 million in the downstream. The spending was 7.23% higher than the total in 2006. ***