The upstream oil and gas authority, SKK Migas, has announced that Shell, Jogmec, Dialog, and PTTEP have expressed interest in investing in the country’s upstream oil and gas (O&G) sector.
Rikky Rahmat Firdaus, SKK Migas Deputy for Exploration, Development, and Work Area Management, said the companies demonstrated their interest by becoming members of the Migas Data Repository (MDR).
The MDR is a membership-based system managed by SKK Migas to facilitate the management and utilization of oil and gas data. Membership—particularly for Production Sharing Contractors (KKKS)—provides streamlined and cost-effective access to key data, especially in relation to tenders for oil and gas blocks (Wilayah Kerja/WK).
Rikky noted that Shell, Jogmec, Dialog, and PTTEP had already purchased block-related data through the MDR, each paying US$30,000 for access.
“Shell, Jogmec, Dialog, and PTTEP have submitted requests and accessed data from the MDR,” Rikky said during a press conference in Jakarta on Monday (July 21, 2025).
He explained that their growing interest in the Indonesian upstream sector is partly driven by joint studies conducted by a number of KKKS to evaluate oil and gas block potential nationwide.
Companies involved in these joint studies include ExxonMobil, Japex, Pertamina Hulu Energi, Kufpec, ENI, Posco, Petronas, PetroChina, Medco, Sinopec, BP, TotalEnergies, and Inpex. To date, 40 joint studies have either been completed or are ongoing.
Read also: Shell completes Pavilion Energy acquisition, strengthens LNG position
These efforts have led to the identification of 16 new promising oil and gas blocks, which, according to Rikky, has helped attract new interest from Shell, Jogmec, Dialog, and PTTEP.
“These opportunities are what investors are seeing in Indonesia’s upstream investment landscape,” he added.
Separately, SKK Migas Head Djoko Siswanto shared that Indonesia currently has 165 oil and gas blocks, comprising 105 exploitation blocks, 43 exploration blocks, 3 exploration blocks under evaluation, and 14 in the process of termination.
“As for oil fields or structures, we currently have around 3,199 exploration and development sites. There are 44,714 wells, with 126 proven plays, and 149 billion barrels of oil equivalent (BOE) in place,” Djoko said.
Indonesia also has 128 oil and gas basins, but only 20 are producing, while 68 are considered prospective but remain untapped.
As for reserves, Djoko cited data from the Ministry of Energy and Mineral Resources’ May 2025 pocketbook, which places Indonesia’s proven oil reserves at 4.31 billion barrels and gas reserves at 51.98 trillion cubic feet (TCF).
Editing by Reiner Simanjuntak
