Sudibyo partially credits this to "higher investment in oil and gas exploration and expansion of domestic market for LPG". He also revealed that "recent exploration

activities had discovered nine billion barrels of oil reserve and 176 trillion cubic feet of gas reserve across the country".

"We will maintain efforts to increase the revenue," added Sudibyo. This increase in revenue, the minister feels, will be achieved via the US$2.1 billion investment following the 4.85 million ton LNG contracts to both South Korea and the United States.

Sudibyo did admit that, however, Indonesia needs to spend around US$1.3 billion in 2004 in order to develop new oil and gas fields and further exploration activities.