Oil and Gas company PT Energi Mega Persada (EMP), a key energy subsidiary under the Bakrie Group, has unveiled an ambitious expansion strategy for 2026, centered on acquiring new oil and gas assets both in Indonesia and overseas. 

The company has allocated US$200 million (Rp 3.3 trillion) in capital expenditure to support the planned acquisitions.

EMP Vice President Director, Edoardus A. Window, confirmed that the company is already in negotiation with potential partners. While he declined to reveal specific asset details, he cited that the number of targeted blocks is fewer than three, involving a mix of domestic and international projects.

“To support this initiative, we have prepared US$200 million for 2026,” he said on Monday, December 1, 2025 noting that this budget is part of the company’s broader US$1.4 billion (Rp23 trillion) capex plan spanning 2025–2030.

The long-term investment roadmap includes:

● Drilling nearly 30 exploration wells;

● Drilling around 130 development wells;

● Maintenance programs for about 106 wells to sustain production levels;

● All activities are expected to be completed by 2030.

Edoardus said that the roadmap aims to maximize the value of EMP’s existing oil and gas portfolio through a combined strategy of exploration and development. With this approach, the company is targeting a major production boost over the next six years.

“Our current production is around 50,000 barrels of oil equivalent per day. The goal is to double that organically by 2030,” he said.

EMP is also keeping the door open for inorganic growth through acquisitions of already-producing oil and gas assets. However, Edoardus emphasized that funding requirements for acquisitions cannot be standardized due to the varying nature of each asset ‒ from commodity type and geographic location to valuation differences across markets.

“It’s difficult to set a fixed annual acquisition budget. Everything depends on the opportunities available and each asset’s valuation. It’s very case-by-case,” he noted.

Market reaction has been upbeat. On Monday, December 1, 2025 EMP’s stock price jumped 21.32 percent, closing at 1,195. The company’s shares have soared 419.57 percent year-to-date, marking a strong investor response to EMP’s growth trajectory.