Antara News·Indonesia·Tuesday, September 29, 2026 at 09:24 AM

Indonesia accelerates oil, gas exploration amid geopolitical turmoil

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Putu Indah Savitri, Yashinta Difa

Jakarta (ANTARA) - Indonesia’s Ministry of Energy and Mineral Resources (ESDM) is accelerating domestic oil and gas exploration and development to cushion the national economy against geopolitical turmoil, which recently pushed global crude oil prices to US$107 per barrel.

“We are ensuring that exploration is accelerated. We will also provide various forms of facilitation,” Deputy ESDM Minister Yuliot said here on Tuesday.

Yuliot explained that the acceleration strategy would cover both government-led exploration and private-sector operations.

The government has identified several oil and gas fields with production potential of 2,500 to 3,000 barrels per day. Development at these sites will be accelerated through 2027 and 2028.

The measure is aimed at achieving Indonesia’s target of producing one million barrels of oil per day by 2029–2030 and securing national energy self-sufficiency amid volatility in global supply chains.

“Since a large portion of our crude oil supply is still imported, we certainly need to look at domestic sources and determine how to increase production from them,” Yuliot said.

“We will ramp up this exploration and exploitation in 2027 and 2028 so that our one-million-barrel target can be achieved,” he added.

The urgency comes amid sharp increases in global oil prices fueled by the escalating conflict in the Middle East.

The price surge followed US President Donald Trump’s rejection of an Iranian proposal for a seven-day ceasefire aimed at reopening the Strait of Hormuz and lifting the naval blockade on Iranian ports in exchange for sanctions relief and the unfreezing of assets.

With mediators struggling to secure concessions regarding Iran’s nuclear program and the US maintaining tightened sanctions, global supply routes remain heavily disrupted.

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