Indonesia Offers Huge Opportunities for Upstream Oil and Gas Investment, Inviting Global Investors and Technology Providers to Collaborate

Optimism regarding investment opportunities in Indonesia's upstream oil and gas sector is growing on the global stage. This confidence was reflected in the "Indonesia Untapped" and "Frontier Resources: Scale, Strategy, and Partnership" forum held in Houston, United States, on Tuesday (May 5, 2026), as part of the Offshore Technology Conference (OTC).

At the forum, Indonesia emphasized that the current energy investment momentum is at a strategic point, not only for investors but also for global energy technology providers.

Indonesian Ambassador to the US, Indroyono Susilo, stated that the government continues to strengthen the investment foundation through regulatory improvements, legal certainty, and the preparation of increasingly competitive oil and gas working areas.

One such effort is encouraging global collaboration in the development of strategic projects such as Abadi Masela.

In terms of potential, Wilson Pariangan, Senior Manager of Oilfield Development at the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas), explained that Indonesia still holds significant untapped opportunities.

Of the 128 existing oil and gas basins, only 20 are producing, while 43 are still in the exploration stage, and 65 remain untapped. "With a potential of 2.7 billion barrels of oil and 39.35 trillion cubic feet (TCF) of gas, as well as 158 available oil and gas blocks, Indonesia offers real investment opportunities with an increasingly competitive and investor-friendly system," he said in a written statement received by Kompas.com.

This narrative of opportunity is further strengthened when linked to execution capabilities in the field.

Indonesia's production capabilities

Pertamina Deputy President Director Oki Muraza emphasized that Indonesia not only offers potential but has also proven its ability to translate it into real production.

"Indonesia is a frontier energy opportunity that has yet to be fully tapped. Now is the best time for investors to enter. We're not just talking about potential, but also execution," he emphasized.

Oki added that Pertamina has consistently demonstrated solid exploration performance. In 2025, the company drilled 20 exploration wells. Of these, eight wells successfully discovered new reserves, reflecting the quality of the data and the technological approach used. "

With the support of 2,931 kilometers (km) (2D) and 855 km² (3D) seismic surveys, we ensure every exploration step is based on strong data, thus providing a higher level of confidence for investors," he explained.

Technology-Based Investment Opportunities

Investment opportunities lie not only in new exploration but also in increasing production from existing assets.

The implementation of technologies such as chemical enhanced oil recovery (EOR), thermal EOR, low-quality reservoir optimization, and infill drilling programs have been proven to increase production in strategic fields like the Rokan Block.

"This is a low-risk, high-value opportunity for investors. Our existing assets still hold significant potential that can be optimized through the application of technology," said Oki.

Pertamina is also actively seeking collaboration with global energy technology providers, particularly from the US, to play a role in increasing Indonesia's oil and gas production.

"Indonesia needs cutting-edge technological solutions, both for exploration, increasing oil recovery, and managing complex reservoirs. This is a great opportunity to grow together," said Oki.

Future Energy Potential

Integrated opportunities also exist in the gas sector through strengthening infrastructure connecting Sumatra and Java, as well as optimizing supply from Eastern Indonesia as the national supply hub.

On the other hand, Indonesia also offers future investment opportunities through the development of carbon capture, utilization, and storage (CCUS), projected to be one of the largest in the region and with the potential to become a regional hub.

Indonesia's geothermal energy potential, reaching 24 gigawatts (GW), the largest in the world, is also a major attraction, with ample development opportunities.

Indonesia has emphasized to global investors that upstream oil and gas investment opportunities are not only promising but also ready to be realized with the world's best technology partners.

This confidence is due to the combination of vast resource potential, increasingly progressive policies, and a proven track record of execution.

Pertamina, as a leading company in the energy transition, is committed to supporting the 2060 Net Zero Emission (NZE) target and continues to promote programs that have a direct impact on achieving the Sustainable Development Goals (SDGs).

All of these efforts align with Pertamina's transformation, which focuses on governance, public service, business sustainability, and the environment. This includes implementing environmental, social, and governance (ESG) principles across all Pertamina business lines and operations, in coordination with danantaraindonesia.co.id.

Source : kompas.com