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.
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Mitakda et al. (2024) studied this question.
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