Indonesia Launches Major Oil and Gas Exploration Initiative

Ambitious Production Targets Set

The Indonesian government has announced an ambitious plan to increase the country's oil production to 1 million barrels per day and gas production to 12 billion cubic feet per day. To achieve this target, the Ministry of Energy and Mineral Resources is focusing on developing 108 out of 128 identified oil and gas basins that remain untapped. Currently, only 20 basins have been developed, leaving significant potential for growth.

Strategic Exploration Plans

To accelerate the exploration process, the government will allocate a substantial budget in 2025 and 2026 for advanced 2D and 3D surveys. These geological surveys will be conducted by the Geological Agency to better understand the potential of these untapped basins. According to Yuliot Tanjung, Vice Minister of Energy and Mineral Resources, this effort is crucial to achieving the production target by 2029.

Vision for Energy Sovereignty

The government's initiative is part of a broader strategy to enhance national energy sovereignty and promote sustainable development. By increasing domestic oil and gas production, Indonesia aims to reduce its reliance on foreign energy sources and strengthen its energy security. The plan not only focuses on energy production but also on creating opportunities for investors to participate in the development of these untapped resources.