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KN. Energy and Mineral Resources Minister Bahlil Lahadalia said the government is currently evaluating several U.S.-based companies to secure contracts for the purchase of oil and gas commodities, following a working visit to the country by a team from PT Pertamina (Persero). He stressed that Indonesia would remain selective in choosing suppliers to avoid dependence on a single source, adding that it is seeking crude oil supplies from multiple countries, including the United States, Angola, Nigeria, and Russia, as part of its diversification strategy.
Indonesia expects its first crude oil shipment from Russia to arrive within the next two weeks after finalizing delivery arrangements, Energy Minister Bahlil Lahadalia said, marking a step toward a broader supply agreement reached under President Prabowo. He said Indonesia and Russia had reached an agreement on crude oil purchases and contracts had been signed, with only shipping arrangements remaining before deliveries begin.
Pertamina held a meeting with the U.S. Department of Energy in Washington, D.C., as a follow-up to President Prabowo’s working visit to the United States in February. The meeting was part of Pertamina’s broader efforts to strengthen Indonesia–United States relations through the exploration of strategic cooperation in the energy sector. Pertamina Vice President Director Oki Muraza, Corporate Secretary Arya Dwi Paramita, and U.S. Department of Energy officials Elizabeth Urbanas, Aleshia Duncan, and Margaux Murali attended the meeting. They discussed strengthening energy trade cooperation, ensuring energy supply security, advancing oil and gas technology development, and exploring collaboration in unconventional oil and gas resource development between the two countries.
Pertamina is exploring stronger cooperation with U.S.-based oil and gas company EOG Resources as a follow-up to their existing collaboration aimed at increasing Indonesia’s national oil and gas production. A meeting between Pertamina Vice President Director Oki Muraza and EOG Resources executives, Joe Korenek and Jonathan Chung, focused on discussing opportunities for further development of unconventional reservoirs in Indonesia. Both parties explored opportunities to strengthen technological collaboration to improve reservoir productivity, including through the application of multi-stage hydraulic fracturing technology, horizontal drilling, and fracture design optimization, which are among EOG Resources’ core technical strengths.
State energy firm Pertamina and LanzaTech have formalized their collaboration through a memorandum of understanding (MoU) to develop technology-based low-carbon energy solutions during the Offshore Technology Conference in Houston. The partnership focuses on developing waste-to-fuel technology, particularly the conversion of urban waste into ethanol through a fermentation process. Pertamina Vice President Director Oki Muraza said that Indonesia is currently facing two major challenges: the increasing volume of urban waste and the growing demand for clean energy. LanzaTech CEO Jennifer Holmgren noted that the company’s microbe-based fermentation technology is capable of converting various carbon sources into high-value products, including ethanol.
As part of its strategic agenda in Houston, Pertamina and Halliburton aligned their technological initiatives to improve upstream operational performance. This alignment follows up on the memorandum of understanding signed in February between the two companies, focusing on priority areas of cooperation and the development of more concrete implementation pathways. Both parties are concentrating on two key priorities: optimizing the economics of multistage fracturing (MSF) and accelerating the monetization of Indonesia’s unconventional oil and gas resources by leveraging Halliburton’s operational experience in the United States.
Indonesia promoted upstream oil and gas investment opportunities to global investors during the Offshore Technology Conference (OTC) in Houston, highlighting the country’s vast untapped energy reserves and more investor-friendly policies. Senior Manager of Oilfield Development at state-owned oil and gas regulator SKK Migas, Wilson Pariangan, said Indonesia still holds 2.7 billion barrels of oil potential. State-owned oil company Pertamina Deputy President Director Oki Muraza emphasized Indonesia’s readiness to collaborate with global technology providers to accelerate upstream energy development.
Russian Ambassador to Indonesia Sergei Tolchenov said Russia has expressed readiness to supply oil and gas to Indonesia in line with existing agreements, despite facing sanctions from the European Union. He emphasized the sanctions are not seen as a major obstacle and emphasized that cooperation agreements with Indonesia have already been reached. Deputy Energy Minister Yuliot Tanjung said recent attacks on Russian oil refineries have not affected Indonesia, as its planned fuel imports from Russia are still in the early stages. He explained that the cooperation and import arrangements are still being finalized, with implementation details to be announced later by the energy minister.
Indonesia has raised prices for high-grade diesel fuel to near-record levels, while keeping subsidized fuels unchanged, in a move aimed at balancing commercial considerations with public affordability. State energy firm Pertamina increased the price of its premium diesel product, Pertamina Dex, by 16.7 percent to $1.6 (IDR27,900) per liter effective Monday, marking the highest level since the brand was introduced.
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