… Advances Energy Partnership
The Indonesian delegation has expressed interest in securing long-term crude supply arrangements and investing in Nigerian oil and gas assets, including new blocks and existing producing and near-producing projects. Opportunities in shipping, logistics, technical training and capacity development were also discussed.
The recent investment attraction witnessed in the Nigerian oil and gas sector followed a high-powered delegation from the Government of Indonesia, led by the Indonesian Ambassador to Nigeria, His Excellency, Bambang Suharto, to the Nigerian Minister of State for Petroleum Gas, Sen. Heineken Lokpobiri.
While receiving a delegation from the Government of Indonesia, Sen. Lokpobiri highlighted the recent surge in investment in the Nigeria’s Oil and Gas Sector as an assiduous commitment of President Bola Ahmed Tinubu’s administration to regulatory predictability, ensuring Nigeria’s investment climate remains competitive, providing a strong foundation for long-term capital and growth
“One major achievement we have made in Nigeria’s oil sector is to position it as a preferred destination for investment, offering opportunities for value creation and sustainable returns, irrespective of global energy dynamics,” the Minister stated.
The Minister informed the delegation that by the end of September, the new bid round will commence, and there are many prolific oil blocks available to grab, as Nigeria is doing everything possible to maximize its energy mix, stating that Nigeria has so many opportunities, as it has scratched only 20% of these opportunities.
“Nigeria is a leading oil-producing country, and all this production coming from the country comes from one basin out of seven basins, and six other basins have not been explored.
“And in these basins, Nigeria needs investors to explore these opportunities and has called on Indonesian companies that are technically capable and proven to come and invest.” He asserted.
The Honourable Minister expressed that Nigeria is ready to build on existing partnerships and pursue mutually beneficial collaborations for economic growth and stability, including exchange programmes already being advanced through the College of Petroleum and Energy Studies, Kaduna (CPESK).
The Indonesian Ambassador to Nigeria, His Excellency, Bambang Suharto, in his remarks said : “Nigeria, being our long-term strategic partner and corporation, is something we need to develop further in the energy sector, with new opportunities in the new block and also opportunities for our companies to invest Nigeria energy value chain.”
Indonesia produces approximately 578,000 barrels of oil per day as of mid-2026, with Duri Field and Geng North producing most of Indonesia’s oil; Indonesia aims to reach 1 million barrels of oil per day by 2030 to offset natural declines in older reservoirs.
PT Pertamina (Persero) is a fully state-owned oil and natural gas corporation in Indonesia. The corporation manages operations, including oil and gas exploration, production, refining, petrochemicals, and renewable energy.
Key highlights of oil and gas exploration and production in Indonesia during the first quarter of 2026, according to SKK Migas, showed oil and NGL production at 599,900 BOPD and gas production at 6,675 MMSCFD, with combined oil and gas output of 1,768 BOEPD and investment year-to-date of US$ 3.63 billion.
