Serpong — Indonesian President Prabowo Subianto reaffirmed his administration’s commitment to opening up the country’s energy sector to large-scale investment, calling on both domestic and international stakeholders to seize what he described as “enormous” opportunities.
Speaking at the opening of the 49th Annual Indonesian Petroleum Association (IPA) Convention and Exhibition on Wednesday (May 21) at ICE BSD City, Prabowo addressed representatives from over 60 countries, emphasizing that Indonesia is well-positioned to become a major player in both conventional oil and gas as well as renewable energy sources.
“Our energy potential is immense,” Prabowo said. “I’ve been briefed on dozens of oil and gas blocks that are ready to be offered on a large scale. I’m instructing all regulatory bodies to simplify their procedures. Any official unwilling to streamline regulations will be replaced.”
He identified excessive regulation as a key bottleneck to progress and stressed the urgent need for reform to attract capital and accelerate project implementation.
To support these ambitions, Prabowo introduced Danantara Indonesia, a newly established sovereign investment fund designed to act as a strategic partner in financing energy projects. Danantara will play a central role in mobilizing capital for initiatives such as carbon capture and storage (CCS), and facilitate partnerships with foreign investors.
“We’ve established a significant investment vehicle—Danantara Indonesia—that’s ready to invest strategically in available energy projects, alongside international partners, to meet our national needs,” he said.
Prabowo also highlighted recent progress under his administration, which has been in office for just six months. He cited the first production outputs from the Forel and Terubuk fields in the Natuna Islands—developed entirely by Indonesian engineers—as a major milestone in the country’s drive toward energy self-sufficiency. The fields are currently yielding 20,000 barrels of oil per day and 60 million standard cubic feet of gas per day.
He concluded his speech with a call for unity and collaboration across sectors, urging public and private actors at all levels to help reduce Indonesia’s dependence on energy imports.
“Let’s work together—private sector, state-owned enterprises, and all levels of government. We must end our reliance on imports. Our resources are vast, yet we spend nearly US$40 billion each year on energy imports. That money should be used to improve the lives of our people—on education, healthcare, and poverty reduction,” Prabowo stated.
