Indonesia Aims for 900,000 BPD Oil Production by 2029
- Dok. PHE
Jakarta, VoxPop – The Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, has set a target for Indonesia's oil lifting to reach 900,000 barrels per day (bpd) by 2029.
Data from the Ministry of Finance in early January 2025 shows that this target is significantly higher than the realized oil lifting in 2024, which stood at 571,700 bpd.
The achievement in 2024 was actually still below the oil lifting target set in the 2024 State Budget (APBN), which was pegged at 635,000 bpd.
"We're targeting that by 2029, the situation must improve. Our plan (for the lifting target) is approximately around 800,000 to 900,000 barrels per day," the minister stated on Thursday (Jan 16).
Menteri ESDM, Bahlil Lahadalia
- VoxPop.co.id/Edwin Firdaus
Minister Lahadalia mentioned that national oil lifting by the end of 2024 had not even reached 600,000 bpd.
This is part of the reality that Indonesia's oil lifting has continued to decline over the past several years.
With an oil lifting target of 605,000 bpd set for 2025, the minister emphasized that investments in Indonesia’s upstream oil and gas sector must be significantly increased to achieve this goal.
The aim is to ensure that the government, represented by the Ministry of Energy and Mineral Resources, can truly meet the predetermined oil lifting targets.
As for future efforts to increase national oil lifting, Bahlil assured that the ministry would expedite the auction process for 60 new oil and gas working areas (WK) by 2028.
"We will tender (the 60 WK by 2028). Of course, these will be new oil and gas working areas," he concluded.
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