The Ministry of Energy and Mineral Resources has revealed that, thanks to the government's creation of a more competitive investment environment, multiple international oil and gas companies have regained interest in Indonesia's upstream oil and gas projects, and many that previously withdrew are planning to return. The Director General of Oil and Gas at the ministry stated that this shift stems from the government's resumption of the cost recovery production sharing contract (PSC) model, which is being implemented in parallel with the gross revenue sharing contract model, along with various incentive policies. Highly attractive fiscal and tax terms have prompted established companies to return.
He noted that Indonesia remains highly attractive to global oil and gas investors, with Eni, Petronas, PetroChina, and Mubadala Energy among the multinational companies expressing interest. The head of Indonesia's Upstream Oil and Gas Special Task Force also previously revealed that at least 25 companies are interested in participating in Indonesia's oil and gas projects, including industry giants such as Chevron, TotalEnergies, and Shell.
He believes that the attention from international companies confirms that Indonesia's oil and gas investment appeal remains strong, and the country's abundant untapped oil and gas resources further add to its investment value. Currently, the Upstream Oil and Gas Special Task Force is enhancing investment attractiveness through initiatives such as opening data, improving regional work data, and providing convenience for investors to evaluate projects, while leveraging flexible fiscal policies, strong permit support, and an open attitude toward production enhancement technologies.
The Ministry of Energy and Mineral Resources has revealed that, thanks to the government's creation of a more competitive investment environment, multiple international oil and gas companies have regained interest in Indonesia's upstream oil and gas projects, and many that previously withdrew are planning to return. The Director General of Oil and Gas at the ministry stated that this shift stems from the government's resumption of the cost recovery production sharing contract (PSC) model, which is being implemented in parallel with the gross revenue sharing contract model, along with various incentive policies. Highly attractive fiscal and tax terms have prompted established companies to return.
He noted that Indonesia remains highly attractive to global oil and gas investors, with Eni, Petronas, PetroChina, and Mubadala Energy among the multinational companies expressing interest. The head of Indonesia's Upstream Oil and Gas Special Task Force also previously revealed that at least 25 companies are interested in participating in Indonesia's oil and gas projects, including industry giants such as Chevron, TotalEnergies, and Shell.
He believes that the attention from international companies confirms that Indonesia's oil and gas investment appeal remains strong, and the country's abundant untapped oil and gas resources further add to its investment value. Currently, the Upstream Oil and Gas Special Task Force is enhancing investment attractiveness through initiatives such as opening data, improving regional work data, and providing convenience for investors to evaluate projects, while leveraging flexible fiscal policies, strong permit support, and an open attitude toward production enhancement technologies.