Government to Auction 10 New Oil and Gas Blocks at IPA Convex

The Ministry of Energy and Mineral Resources (ESDM) has announced plans to auction 10 new oil and gas blocks within the Indonesian Petroleum Association Convention and Exhibition (IPA Convex). “Yes, around 10 (oil and gas blocks). There are some in the Sulawesi region, Kalimantan region, Papua region, and Sumatra,” stated the Director General of Oil and Gas (Dirjen Migas) of the Ministry of ESDM, Laode Sulaeman, when met at the Ministry of ESDM office in Jakarta on Wednesday. In February 2026, the Ministry of ESDM announced 10 potential new oil and gas block areas that have completed in-depth study stages. These 10 areas are part of the 110 potential areas mapped by the Ministry of ESDM up to February 2026 and have undergone studies by the Geological Agency and LEMIGAS, resulting in higher quality data. The government is also committed to creating an attractive investment climate in upstream oil and gas through various new fiscal policies. Some of the incentives offered include more attractive fiscal provisions with KKKS splits up to 50% (previously only 15–30%). Additionally, the government provides flexibility in oil and gas contracts, allowing KKKS to choose between cost recovery or gross split types, upstream oil and gas incentives for production optimisation, and exemptions from indirect taxes during the exploration phase. “We will announce it at the IPA soon. Next week is the IPA annual conference. We will announce it there,” said Laode. “From Harbour in England, they have already released some of their shares to a national company. I think the EPC will soon be underway. We target to accelerate its production in 2028, at the latest 2029,” said Bahlil.