Antara News·Indonesia·Monday, October 26, 2026 at 01:55 PM UTC

Indonesia offers 43 oil and gas discoveries for investment

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Putu Indah S, Resinta Sulistiyandari

Sanur, Bali (ANTARA) - Indonesia’s Special Task Force for Upstream Oil and Gas (SKK Migas) is offering investment opportunities to develop 43 oil and gas discoveries in basins that remain in the exploration stage.

"We offer investment opportunities for investors, namely the development of 43 oil and gas discoveries in basins still being explored," SKK Migas Deputy for Exploration, Development, and Working Area Management, Rikky Rahmat Firdaus, said at the 2026 ASEAN Council on Petroleum (ASCOPE) conference in Sanur, Bali, on Monday.

Of the 43 explored oil and gas basins, he mentioned that some are underdeveloped discoveries, as well as stranded oil and gas field development plans (PODs).

Firdaus explained that Indonesia has 128 sedimentary basins, reflecting the nation's vast upstream oil and gas potential.

Furthermore, Indonesia has proven oil reserves of 2.3 billion barrels and natural gas reserves of 35 trillion cubic feet (TCF) distributed across 168 oil and gas contract areas, he added.

"Development opportunities cover both producing areas and new exploration areas," he said.

In addition to offering investors opportunities to develop 43 oil and gas discoveries in explored basins, SKK Migas also invites investment in 20 producing basins and exploration in 65 frontier basins, or areas with limited exploration activity.

"Our priority is to match potential resources with the right investment strategies, and accelerate the conversion of potential into production," Firdaus said.

Additionally, Deputy of Finance and Commercialization at SKK Migas Desti Melanti stated the attractive fiscal stimulus could transform Indonesia's oil and gas potential into production.

Melanti said achieving national oil and gas production and lifting targets requires addressing several key issues, including legal certainty, investment certainty, and fiscal incentives to encourage investment.

She therefore stressed that addressing these issues would enhance the investment appeal of Indonesia’s upstream oil and gas sector.

She also underscored the importance of continued exploration and new reserve discoveries in supporting the achievement of national production targets.

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