Government to Tender 60 Oil and Gas Blocks by 2027
Jakarta – Energy and Mineral Resources Minister Bahlil Lahadalia has announced plans to tender all 60 oil and gas working areas by 2027 in a bid to boost oil production and bolster energy security. This ambitious undertaking aims to enhance oil lifting operations and support the country’s energy needs.
New Blocks to Be Tendered
Minister Lahadalia emphasized that all the oil and gas working areas to be tendered will be new blocks, signaling a fresh start in the industry. This move is part of the government’s proactive approach to revitalize the oil and gas sector and ensure sustainable development in the field.
Call for Evaluation and Regulation
In a strategic move, the minister called on the newly appointed Director General of Oil and Gas, Achmad Muchtasyar, to evaluate working areas that have approval for the Plan of Development (PoD) but have not started production after a 20-year period. This evaluation process aims to identify opportunities for improvement and address any challenges hindering progress in the sector.
Furthermore, Minister Lahadalia stressed the importance of regulating oil and gas exports and imports to maintain a balanced commodity trade and achieve energy sovereignty. He highlighted the need for comprehensive regulations governing the exports and imports of LPG, crude oil, and finished oil to align with the country’s energy objectives.
Targeting Increased Oil Lifting
The Ministry of Energy and Mineral Resources has set an ambitious target of reaching 800-900 thousand barrels of oil per day by 2029. Minister Lahadalia expressed confidence in achieving this goal and emphasized the government’s commitment to enhancing oil production for the benefit of the nation.
In conclusion, the government’s initiative to tender 60 oil and gas blocks by 2027 reflects a strategic vision to revitalize the sector and promote sustainable growth. By prioritizing new blocks, evaluating existing working areas, and implementing effective regulations, Indonesia aims to strengthen its position in the global energy market and ensure long-term energy security for its citizens.
