Oil and gas producer Indonesia has put up for tender eight new blocks to award to companies as Southeast Asia’s biggest economy looks to boost domestic hydrocarbon reserves and production.
Interested parties can submit bids by February 5, 2026, for the onshore and offshore blocks Tapah, Nawasena, Mabelo, Arwana III, Tuah Tanah, Rangkas, Akimeugah I, and Akimeugah II, according to a document of the Indonesian Energy and Mineral Resources Ministry published on Monday and seen by Reuters.
These blocks are estimated to hold billions of barrels of crude oil and billions of cubic feet of gas as Indonesia looks to reduce its import dependence and reverse a years-long decline in its oil production.
Indonesia looks to unlock its upstream potential by offering more than 100 previously untapped oil and gas basins to global investors for exploration.
The country targets to nearly double its oil production to 1 million barrels per day (bpd) of crude oil. Currently, Indonesia pumps about 600,000 bpd of crude.
Indonesia has developed only 20 out of 128 identified oil and gas basins across its archipelago, Deputy Minister of Energy and Mineral Resource, Yuliot Tanjung, said in November at the launch event to attract investments in Indonesia’s energy future.
The government is allocating resources to its Geological Agency to conduct advanced 2D and 3D surveys, paving the way for exploration to unlock the potential of these resources, the official said.
“Our shared vision is clear: by 2029, Indonesia will achieve its production target of 1 million barrels of oil per day, boost energy security, and advance sustainable development,” Yuliot said at the event.
Indonesia has also prepared 75 oil and gas blocks across Sumatra, Kalimantan, Sulawesi, Papua, and offshore areas for auctions and concessions. Nine of these oil and gas blocks have been awarded to business entities, with several more blocks to follow, the deputy energy minister said at the end of November.
By Tsvetana Paraskova for Oilprice.com
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