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Indonesia invites int’l investment in 116 new oil and gas blocks

Amid rising global geopolitical tensions, particularly risks related to energy supplies, the Indonesian government is striving to maintain energy sovereignty.

Jakarta (VNA) - The Energy and Mineral Resources Ministry of Indonesia ((ESDM) is offering 116 new oil and gas blocks to global investors to achieve production targets.

Director General of Oil and Gas at ESDM Laode Sulaeman said in a statement on April 24 that in addition to opening new oil and gas working areas (WK), the government is establishing technological and operational collaboration in existing working areas, according to the Antara News Agency.

As stipulated in the 2026 State Budget, the oil production target is projected at 610,000 barrels of oil per day.

Laode stated that the major discovery in the Geliga Well, Ganal Block, in offshore East Kalimantan, which is estimated to have a gas potential of 5 TCF and 300 MMbbl of condensate, is crucial for achieving this production target.

Amid rising global geopolitical tensions, particularly risks related to energy supplies, the Indonesian government is striving to maintain energy sovereignty.

The Indonesian government has implemented comprehensive mitigation measures following the closure of the Strait of Hormuz due to rising tensions in the Middle East, which is a crucial route for an average of 20 percent of Indonesia's crude oil supply, Laode said.

Measures including diversifying energy imports, optimising domestic and biofuel supplies, improving refinery performance, strengthening bilateral cooperation and implementing efficient fuel or LPG consumption policies, the official noted.

Indonesia offers not only vast resources but also real opportunities. The government is taking concrete steps to ensure investment can move faster with greater certainty, he affirmed./.

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