Twenty-five oil and gas companies, including major global players such as Shell, Chevron, and TotalEnergies, have expressed strong interest in exploring Indonesia’s upstream energy sector, a top government official revealed.

According to Head of the Upstream Oil and Gas Business Regulatory Task Force (SKK Migas), Djoko Siswanto, the companies vary in size, but share a common interest in tapping into the archipelago’s vast untapped resources.

“There are 25 companies, including some of the major players,” Djoko said on the sidelines of the 49th IPA Convention & Exhibition in Tangerang, Banten, on Tuesday, May 20, 2025.

Djoko noted that many of the companies have already been engaged in joint studies to assess the country’s hydrocarbon potential, while others are in the process of selecting specific exploration areas. Most of the interest, he added, is focused on the eastern regions of Indonesia, where reserves are less explored compared to the more mature western basins.

“Most of the blocks are in the eastern part of the country. That’s where the greatest potential lies. The western regions are already saturated,” Djoko said.

To attract foreign and domestic investment, the government has enhanced upstream data accessibility, introduced more flexible fiscal terms, and streamlined permitting processes. Indonesia has also improved its data connectivity and transparency, in line with global standards.

“The goal is to boost production and welcome any technology that can help us increase output. That’s what attracts them,” he cited.

French energy giant TotalEnergies is reportedly exploring the possibility of re-entering Indonesia through the potential acquisition of the Bobara exploration block. Likewise, Chevron may also be preparing to reinvest in the sector, following recent comments from Deputy Minister of Energy and Mineral Resources Yuliot Tanjung.

The government plans to offer 60 new oil and gas blocks for exploration between 2025 and 2027 as part of its strategy to increase domestic production and reduce dependency on imported energy.

Meanwhile, Djoko confirmed that Shell is preparing to return to the Indonesian upstream market after exiting several projects in recent years.

“Yes, Shell is also interested. It’s great news,” Djoko said.