REPUBLIKA.CO.ID, JAKARTA -- The Upstream Oil and Gas Regulator (SKK Migas) predicted that investment in upstream oil and gas sector in 2014 would increase 32 percent from 2013.

Acting head of SKK Migas J Widjonarko said here on Monday investment in the upstream oil and gas sector was valued at US$19.342 billion in 2013 or up 12 percent from the previous year.

"In 2014, the investment is expected to increase 32 percent to US$25.64 billion from 2013," Widjonarko said, adding investment in the sector has continued to increase since 2010.

In 2010, investment in the upstream oil and gas sector reached US$11.031 billion, up to US$13.986 billion in 2011 and to US$16.543 billion in 2012.