Indonesian Oil Production Reaches 576,200 Barrels Per Day as of May 2026

The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) has recorded that the realisation of national oil lifting as of 31 May 2026 reached 576,200 barrels per day (bpd). This figure remains lower than this year’s oil lifting target, which is set at 610,000 bpd.

The Head of SKK Migas, Djoko Siswanto, explained that the total production of oil, condensate, and NGL (Natural Gas Liquids) up to 31 May 2026 reached 576,200 bpd. This total consists of oil production of 491,300 bpd, condensate at 55,800 bpd, and NGL at 29,100 bpd.

“For oil lifting in 2026, our current realisation is 576,000 bpd, with an outlook of approximately 600,000 to 610,000 bpd by the end of the year. For 2027, we anticipate around 602,000 to 615,000 bpd,” Djoko stated during a Hearing (RDP) with Commission XII of the Indonesian House of Representatives (DPR RI) on Wednesday (3/6/2026).

Meanwhile, regarding gas production, as of 31 May 2026, gas production reached 6,550 million standard cubic feet per day (MMSCFD), with gas delivery reaching 5,207 MMSCFD. The gas lifting/delivery target in the 2026 State Budget (APBN) is 5,508 MMSCFD, meaning the current realisation has reached 94.5% of this year’s target. The outlook for 2026 gas production is approximately 6,787 MMSCFD, with gas delivery at 5,400 MMSCFD.

Furthermore, Djoko shared that the Indonesian Crude Price (ICP) assumption for 2026 is expected to reach US$86 per barrel, while for 2027, it is projected to decrease to US$80 per barrel.

“For the 2026 ICP realisation, up to May, it stands at US$86 per barrel. This is why the prices of Pertalite and subsidized fuel appear to remain stable until the end of the year, as the budget is sufficient as long as the ICP does not exceed US$100,” said Djoko.