Antara News·Indonesia·Tuesday, November 3, 2026 at 01:12 PM UTC

RI's oil and gas sector hits 221 percent reserve replacement in 2026

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Putu Indah Savitri, Yashinta Difa

Jakarta (ANTARA) - Indonesia’s upstream oil and gas sector has notched a major strategic milestone, recording an estimated Reserve Replacement Ratio (RRR) of 221.4 percent by the close of 2026, according to the Special Task Force for Upstream Oil and Gas (SKK Migas).

"This reflects a potential for reserve additions that exceeds the volume of reserves produced, while simultaneously confirming the success of our exploration activities,” SKK Migas Head Djoko Siswanto said in a statement on Tuesday.

Djoko explained that Indonesia’s extraordinary oil and gas potential is evidenced by several major discoveries made recently.

One notable example is the significant gas discovery at the Geliga-1 well in the Ganal Block, announced by Eni in April 2026, which holds an estimated in-place resource of approximately 5 trillion cubic feet (Tcf) of gas and 300 million barrels of condensate.

This achievement reinforces the positive trend in Indonesia’s upstream sector, building upon previous major discoveries—such as Geng North-1 and Konta-1 by Eni in the Kutei Basin, East Kalimantan, as well as Layaran-1 and Tangkulo-1 by Mubadala Energy in the South Andaman working area.

These findings have bolstered the prospects for developing Indonesia’s oil and gas resources, supported by contingent resources that reached 1,497.4 million barrels of oil equivalent (MMBOE) by September 2026—representing 230 percent of the annual target—and projected to rise to 250 percent by year-end.

To attract global investors, Indonesia offers various avenues for participation, including working area development, asset optimization, and farm-in/farm-out partnerships.

The government also maintains a competitive fiscal environment under Minister of Energy and Mineral Resources Regulation Number 13 of 2024, allowing a choice between gross split and cost recovery schemes.

"We are prepared to facilitate and streamline the licensing process, accelerate decision-making and provide fiscal flexibility to accommodate enhanced international cooperation," Djoko said.

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