Indonesia will see a rise in upstream oil and gas investment approvals in 2027 as BUK Migas streamlines major projects clearance.

Made

18 Sep 2026

Owen Bae

Market

Indonesia

Outcome

Unresolved

Prabowo’s target of raising oil output to 1 million barrels per day by 2029 is being limited by a clearance process fragmented across ministries. The creation of BUK Migas as a new energy regulator reporting directly to Prabowo will strengthen Jakarta’s ability to coordinate and accelerate major projects. Russian companies could be among the earliest beneficiaries, after Prabowo recently invited Russian investors to bid for 138 oil and gas exploration blocks. Western majors will have difficult choices to make.

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