[REVISION HISTORY]

Indonesia oil and gas sector developments

Updated 1 time since CLSTR started tracking revisions of this situation.

What changed

2026-10-22 03:09 UTC → 2026-10-23 18:22 UTC · added ~~removed~~

In September 2026, the South Sulawesi and Wajo Regency governments renegotiated their Participating Interest (PI) for the Sengkang oil and gas working area. Facilitated by the Ministry of Energy and Mineral Resources and SKK Migas, the agreement increased the local government's stake from 2.5 percent to 10 percent to bolster regional revenue. The Wajo Regency Government began preparations to manage this interest through its Regional Owned Enterprise. By October 2026, reports indicated an upward trend in upstream oil and gas investment across Indonesia. Data from SKK Migas showed unaudited investment in the sector reached 10.4 billion USD as of August 31, 2026. Analysts attributed these investment trends to improved incentives, better profit-sharing schemes, and increased contract flexibility. Under the administration of President Prabowo Subianto and Vice President Gibran Rakabuming Raka, the government is implementing shifts in economic and sectoral policies. The President has called for a correction of national economic philosophy to align with Articles 33 and 34 of the 1945 Constitution, aiming to address wealth inequality and prevent resource concentration. Amidst these policy shifts, upstream oil and gas investment has maintained a positive trend, with SKK Migas confirming 10.4 billion USD in realized investment through August 2026.

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