{
    "success": true,
    "data": {
        "id": 2060454,
        "msgid": "bahlil-warns-oil-contractors-to-develop-fields-or-return-concessions-1793245815",
        "date": "2026-10-29 10:23:35",
        "title": "Bahlil warns oil contractors to develop fields or return concessions",
        "author": "",
        "source": "ANTARA_EN",
        "tags": "",
        "topic": "Energy",
        "summary": "Energy and Mineral Resources Minister Bahlil Lahadalia has urged oil and gas contractors, including Pertamina, to accelerate development of fields with approved plans or return the concessions to the state. The demand comes as Indonesia\u2019s oil production remains far below consumption, and the government seeks to lift output and advance its 2029\u20132030 energy self-sufficiency targets.",
        "content": "<p>Indonesia consumes around 1.6 million barrels of oil per day (bpd),\nwhile domestic production stands at approximately 600,000 to 650,000\nbpd.Jakarta (ANTARA) - Indonesia\u2019s Energy and Mineral Resources Minister\nBahlil Lahadalia has urged upstream oil and gas contractors to\nimmediately develop fields covered by approved Plans of Development\n(PoD), warning that concessions could be returned to the state if\nprojects remain stalled.<\/p>\n<p>\u201cIf you are unable to do so, return the concession to the state. We\nwill then offer it to those who are capable of carrying out the work,\u201d\nBahlil said at the opening of the 2026 Upstream Oil and Gas Forum\n(FOREK) in Jakarta on Wednesday (October 28).<\/p>\n<p>The directive also applies to state-owned energy company Pertamina.\nBahlil stressed that government backing should not be used to justify\ndelays, adding that Pertamina should share management responsibilities\nif it cannot accelerate project implementation.<\/p>\n<p>The government is seeking to speed up upstream development as\nIndonesia faces a substantial gap between domestic oil consumption and\nproduction.<\/p>\n<p>Indonesia consumes around 1.6 million barrels of oil per day (bpd),\nwhile domestic production stands at approximately 600,000 to 650,000\nbpd.<\/p>\n<p>The B50 biodiesel program is estimated to offset 250,000 to 300,000\nbpd of oil consumption, but Indonesia still imports around 700,000 to\n750,000 bpd, according to the figures cited in the report.<\/p>\n<p>Bahlil said increasing oil lifting remained a major challenge,\ncompounded by aging wells and a decade-long decline in production. He\nurged contractors to adopt technological innovations to improve\nextraction, citing modernization efforts by Exxon in Cepu, East Java, as\nan example of how technology could help optimize production.<\/p>\n<p>The urgency has also increased amid changing global conditions.\nHigher oil prices, rising demand, and geopolitical uncertainty have\nprompted countries to prioritize domestic energy reserves, raising\nconcerns about potential regional supply tensions.<\/p>\n<p>Bahlil framed the directive as a push for faster corporate action\nrather than a direct threat. He expressed confidence that accelerated\nproject development could help Indonesia achieve the energy\nself-sufficiency targets set by President Prabowo Subianto for\n2029\u20132030.<\/p>\n<p>Related news: Indonesia to offer 75 oil and gas blocks to\ninvestors<\/p>\n<p>Translator: Khaerul Izan, Yashinta Difa<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/bahlil-warns-oil-contractors-to-develop-fields-or-return-concessions-1793245815",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}