Indonesia's Upstream Oil and Gas Investment Realization Reaches 55% in August 2025

The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) reported that as of August 2025, upstream oil and gas investment reached US$9.38 billion, or Rp152.96 trillion.

This achievement is only 55% of the 2025 investment target, which was set at around US$16.5 billion to US$16.9 billion.

“That's for total investment in upstream oil and gas activities, including capex (capital expenditure), opex (operational expenditure), exploration, and production,” said SKK Migas Head Djoko Siswanto in a hearing with Commission XII of the DPR (House of Representatives) on Tuesday (September 23, 2025).

During the same period, investment in exploration specifically reached only US$500 million (Rp8.1 trillion), or 33% of this year's target of US$1.5 billion (Rp24.4 trillion).

Furthermore, Djoko explained that up to August 2025, the amount of discovered oil and gas resources reached 919.35 million barrels of oil equivalent (MMBOE). This figure is expected to increase to 1,154 million MMBOE by the end of the year.

The trend over the full year from 2019 to 2024 shows that upstream oil and gas investment in Indonesia increased. However, it temporarily dropped to US$10.5 billion in 2020. Then, it steadily increased, reaching US$14.4 billion in 2024.