#Oil and Gas
Chevron eyes a return to Indonesia’s upstream oil & gas sector
Global energy giants, including Chevron and Shell, are showing renewed interest in Indonesia’s upstream oil and gas sector, as the government intensifies efforts to attract foreign investment through fiscal reform and improved exploration data access.
Upstream oil & gas investment hits US$7.19 B in H1 2025, highest in a decade
The upstream oil and gas posted a significant investment rebound in the first half of 2025, with realized investments reaching US$7.19 billion, up 28.6 percent year-on-year from US$5.59 billion in the same period of2024, according to the Upstream Oil and Gas Regulatory Task Force (SKK Migas).
House targets new oil and gas law in 2026, eyes major overhaul
The House of Representatives (DPR) will open the door to drafting a new Oil and Gas Law (UU Migas) in 2026 only upon the completion of deliberations on the New and Renewable Energy (EBT) Bill and the Electricity Bill, said Eddy Soeparno, Member of Commission VII and Deputy Speaker of the People’s Consultative Assembly (MPR).
Oil & gas sector sees surge in development drilling amid energy security push
The upstream oil and gas industry continues to demonstrate strong momentum, with the number of development wells drilled reaching 337 by May 2025, a 20-percent increase compared to the same period last year, according to the Upstream Oil and Gas Regulatory Task Force (SKK Migas).
INPEX reaffirms commitment to Indonesia’s energy transition
Japan oil and gas exploration company INPEX Masela, Ltd. renewed its commitment to supporting Indonesia’s transition toward sustainable energy, a statement made during the Joint Convention 2025 held in Semarang, Central Java on July 1-3, 2025.
ReforMiner urges urgent oil&gas law revision, says 60 percent of provisions obsolete
Executive Director of ReforMiner Institute, Komaidi Notonegoro, has called on the government and the House of Representatives (DPR) to immediately revise Law No. 22/2001 on Oil and Gas, asserting that much of the 24-year-old legislation is no longer aligned with the current needs of the oil and gas industry.
PGN, Mubadala Energy strengthen partnership to develop S. Andaman gas potential
State has distribution company PT Perusahaan Gas Negara (PGN) and Mubadala Energy (South Andaman) RSC LTD have signed a memorandum of understanding (MoU) to jointly explore the utilization of natural gas from the South Andaman Production Sharing Contract (PSC), including the development of gas pipeline infrastructure and the assessment of LNG infrastructure options.
Medco Energi secures US$500 Million loan for capital structure, business expansion
Indonesian energy giant PT Medco Energi Internasional (MEDC) has secured a US$500 million (Rp8.4 trillion) loan facility − through two of its subsidiaries, Medco E&P Grissik Ltd (MEPG) and Far East Energy Trading Pte. Ltd (FEET).
SKK Migas expects output boost from Cepu Block to supplant oil lifting deficiency
The Upstream Oil and Gas Regulatory Task Force (SKK Migas), reported an average national crude oil lifting of 567,900 barrels of oil per day (bopd) as of May 31, 2025, approximately 94 percent of the state budget (APBN) target of 605,000 bopd.
Russia’s Zarubezhneft stays committed to Indonesia’s Tuna Block, seeks new partner
Russian oil and gas company Zarubezhneft has confirmed its continued participation in the Tuna Block project located offshore north of Natuna Island, Riau Islands province, dispelling previous rumors suggesting the company's withdrawal due to geopolitical pressures.
MedcoEnergi acquires Repsol’s participating interest in Corridor PSC
Energy company PT Medco Internasional (MEDC) has strengthened its position in the domestic gas sector with a major acquisition from Spain’s Repsol E&P S.à.r.l., purchasing a 24 percent indirect participating interest in the Corridor Block for US$425 million (Rp6.8 trillion).
Kangean Energy denies environmental misconduct amid public scrutiny
Kangean Energy Indonesia Ltd. (KEI), an upstream oil and gas contractor operating in East Java waters, has refuted recent allegations suggesting that its offshore activities have caused environmental harm and failed to benefit surrounding communities.