ASIATODAY.ID, JAKARTA — Indonesia is aggressively opening investment opportunities in its upstream oil and gas sector by offering 118 prospective oil and gas working areas to global investors as part of its push toward national energy self-sufficiency.
Indonesia’s Minister of Energy and Mineral Resources, Bahlil Lahadalia, announced the strategic initiative during the Indonesia Petroleum Association Convention and Exhibition (IPA Convex) 2026 in Tangerang, Banten on May 21,2026.
According to Bahlil, the government is providing transparent and equal access for both domestic and international investors to participate in Indonesia’s energy expansion without closed-door negotiations.
“What matters is having the technology, the capital, and the commitment to develop these energy resources for the benefit of the nation and the people,” Bahlil said.
As of May 2026, the Ministry of Energy and Mineral Resources has identified 118 potential oil and gas working areas consisting of 43 blocks under joint study, 50 blocks in the data acquisition and offering stage, and 25 blocks that have already secured signed contracts.
Eight blocks from the 2025 bidding round have officially been awarded with a combined firm investment commitment of USD57.95 million and signature bonuses totaling USD3.15 million. The eight blocks are estimated to contain potential resources of 255 million barrels of oil and 13.79 trillion cubic feet (TCF) of natural gas.
The strategic blocks include Gagah in South Sumatra, Bintuni in West Papua, Karunia in North Sumatra and Riau, Drawa in West Papua and Southwest Papua, Jalu and Southwest Andaman in the Andaman Sea, Barong in East Java and South Sulawesi, and Nawasena in East Java.
The government believes the strong investor interest demonstrates Indonesia’s continuing attractiveness as a major energy destination amid global geopolitical uncertainty and rising worldwide energy demand.
The investments are expected to accelerate new oil and gas discoveries, increase national production, boost state revenues, and create employment opportunities across the country.
Bahlil also emphasized the importance of involving regional businesses in national energy projects to ensure economic benefits are more evenly distributed beyond Jakarta.
Indonesia is currently accelerating its energy self-sufficiency agenda through regulatory simplification, reactivation of idle wells, and the implementation of Enhanced Oil Recovery (EOR) technology to increase national crude oil production. (AT Network)
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