Indonesia Encourages Global Firms to Explore 108 New Oil and Gas Basins

Indonesia is offering over 100 previously untapped oil and gas basins to global investors as part of its efforts to boost production and reach a goal of 1 million barrels of oil per day by 2029. As Southeast Asia’s largest economy, Indonesia aims to reverse its production decline and enhance national energy security. The country plans to almost double its oil production to 1 million barrels per day, up from the current 600,000 barrels. Indonesia has revealed that only 20 out of the 128 identified oil and gas basins in its territory have been developed, signaling vast untapped potential for exploration and production.