Prabowo Sets Oil Lifting Target at 610,000 Bpd in 2027 State Budget Draft

President Prabowo Subianto has set a crude oil lifting target of 610,000 barrels per day (bpd) and a natural gas lifting target of 954,000 barrels of oil equivalent per day (BOEPD) in the 2027 State Budget Draft (RAPBN). These targets are key assumptions for determining state revenue from the oil and gas sector. The crude oil lifting target remains unchanged from the 2026 State Budget assumption, with the government considering national production conditions and upstream oil and gas developments. Meanwhile, the natural gas lifting target is lower than the 2026 assumption of 984,000 BOEPD, representing a decrease of 30,000 BOEPD. The government also set the Indonesian Crude Price (ICP) assumption at US$75 per barrel. The combination of this price and the lifting realisation will influence state revenue from the oil and gas sector.