Bahlil Optimistic that Giant Kaltim Gas Reserves Will Help Indonesia Reduce Energy Imports

JAKARTA - Exploration results from the working area conducted by the Italian energy company Eni have revealed a giant gas reserve off the coast of East Kalimantan (Kaltim). Eni, which is collaborating with the Indonesian government, explained that the gas reserve at the Geliga-1 well in the Ganal Block, Kutai Basin, amounts to 5 trillion cubic feet (Tcf). This discovery was announced by the Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, during a press conference at the Ministry of ESDM on Monday (20/4/2026). “Once again, we give thanks to God for this (discovery), which is a blessing bestowed upon us. The government is continuously exploring other areas to find new oil and gas (migas) reserves. We must truly focus on carrying out the President’s orders to seek new oil sources,” he stated. If new oil sources are found, the government is optimistic that it can significantly reduce energy imports by utilising domestic production. Then, in 2029-2030, production will be ramped up again to reach 150,000 barrels per day. “This is a strategy to ensure that we do not import gas from other countries. We must meet domestic needs, and this gas will be promoted for downstream industrialisation, as well as reducing our crude oil imports with the addition of condensate,” he explained. “If the price (of world oil) falls, then (the price of Pertamax) won’t rise. But if the price continues like this (rising), then there will certainly be adjustments,” Bahlil explained, quoted from Kompas.com on Monday (20/4/2026). It turns out that the price increase for Pertamax Turbo, Pertamina Dex, and Dexlite is the first stage of adjustments for non-subsidised fuels that follow global oil prices. “For non-subsidised fuels, there are price adjustments. The first stage might be done now as it is. For the next stages, we will see the adjustments,” Bahlil clarified. The government can only guarantee that the prices of subsidised fuels, Pertalite and Biosolar, will not rise until the end of 2026. “I say that what the government can guarantee for stable prices is the subsidised ones,” Bahlil stated.