TANGERANG, May 22, 2025 - The government remains dedicated to enhancing the appeal of upstream oil and gas investments by prioritizing input from business stakeholders. As a result, government policies are set to maintain flexibility moving forward.
Djoko Siswanto, Head of the SKK Migas), highlighted that, in alignment with President Prabowo Subianto's directives, the government is actively listening to the concerns of business actors.
"The President's message is unequivocal: we will eliminate burdensome regulations. This demonstrates that the government is responsive to business aspirations, fostering a robust motivation for continued constructive collaboration between the public and private sectors," Djoko stated during his closing remarks at IPA Convex 2025, held at ICE BSD on Thursday (22/5).
Additionally, Djoko emphasized that President Prabowo's participation in IPA Convex 2025 signifies the government's readiness to enhance collaboration with business actors, facilitating the prompt execution of an agreed-upon roadmap. "This spirit of collaboration should extend beyond this event to ensure our targets transition from mere discourse into tangible outcomes," he asserted.
The government aims to initiate an increase in oil production this year, particularly targeting the Banyu Urip field managed by ExxonMobil, which is expected to boost production by 30,000 barrels per day (bpd). By 2030, production is projected to rise further to between 800,000 and 900,000 bpd.
Djoko urged the Oil and Gas Company (KKKS) to promptly submit their program plans for exploration and development to the government, enabling immediate discussions on these plans. "To KKKS, we ask that you bring forth your exploration and production program plans, including the Work Program and Budget (WP&B) that fill existing gaps," Djoko said.
The government has observed a growing enthusiasm among business actors for increasing production through heightened activity. Many are actively seeking new oil and gas reserves via exploration, including participation in oil and gas block bidding. Notably, there is also significant interest in advancing Carbon Capture Storage (CCS) technology.
This year's IPA Convex has proven to be a significant moment, signaling a revival for the national oil and gas sector. Over the course of three dynamic days, numerous agreements and contracts were established related to the management of oil and gas blocks, gas utilization, and collaborative technological development initiatives.
"Our momentum continues to build; this year alone, we have witnessed a flurry of signing activities for oil and gas block contracts, as well as several gas sale and purchase agreements," stated Djoko. "This clearly demonstrates that our industry is experiencing a robust resurgence."
Carole J. Gall, President of the Indonesia Petroleum Association (IPA), commended the unwavering commitment of the Indonesian government, emphasizing its proactive approach to regulatory improvement and its dedication to cultivating a conducive investment climate.
"These initiatives are crucial in ensuring the success of the upstream oil and gas sector in Indonesia. Therefore, we remain optimistic about the industry's promising future. Feedback from CEOs and experts suggests that we can navigate the challenges of the energy transition through effective collaboration," Carole noted.
Hariadi Budiman, Chairman of the IPA Convex 2025 Committee, remarked on the palpable enthusiasm surrounding this year's event. Attendance saw a boost, with visitor numbers climbing to 32,000 from last year's 29,000. Additionally, delegates increased to 3,000, up from 2,700 in the previous year, with representation from 60 countries compared to 51 last year.
"On the exhibitor side, we experienced a significant rise in participation, growing from 179 last year to 216 this year. The number of plenary sessions also expanded, featuring 14 sessions with over 100 speakers participating in various programs throughout the event. Furthermore, we were delighted to welcome 3,005 delegates representing 60 countries," he stated.
In the Technical Program Committee (TPC), a total of 161 poster and oral presentations were delivered. "We hope that this remarkable increase serves as a positive indication of the industry's ongoing growth," concluded Hariadi.
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