Prabowo: National Energy Self-Sufficiency Could Save Tens of Billions of Dollars

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TEMPO.CO, Jakarta - President Prabowo Subianto underscored that achieving national energy self-sufficiency is crucial for Indonesia’s independence and sovereignty.

He remarked, "If Indonesia can achieve energy self-sufficiency, the government could save tens of billions of U.S. dollars. Hundreds of trillions of money also do not need to flow out of Indonesia," during a virtual speech at the inauguration of the Forel and Terubuk Oil Fields from Merdeka Palace, Jakarta, on Friday, May 16, 2025.

Both oil fields are located in Natuna, Riau Islands. The President believes these savings will bolster the national economy and directly benefit the people.

He likened energy self-sufficiency to the effort of achieving food self-sufficiency. According to him, a nation capable of meeting its own food and energy needs will be very strong. "That nation cannot be disturbed by other nations, that nation will survive whatever the circumstances," he said.

Prabowo further noted that the inauguration of the Forel and Terubuk Oil Fields marks the first oil and gas lifting project under the new government. He called this event a tangible step toward national energy independence.

"These two projects are important milestones, historical milestones, and our joint efforts to achieve national energy self-sufficiency," he added.

He also highlighted the role of Indonesian human resources in these projects. The nearly 100 percent domestic component rate demonstrates the capability of Indonesia’s workforce to master oil and gas industry technology.

"Now, in this era, mastering technology, especially in the economic field, this is the future of a nation," he said.

Earlier, Energy and Mineral Resources Minister Bahlil Lahadalia announced the government’s plan to inaugurate an oil well in Natuna to boost national oil and gas production.

"Tomorrow there is an inauguration in Natuna for our lifting improvement," Bahlil stated at the Presidential Palace, Jakarta, on Thursday, May 15, 2025.

Bahlil explained that the oil well will be managed by Medco Energi and is expected to increase production capacity by 20,000 barrels per day.

He also shared that President Prabowo has instructed the Ministry of Energy and Mineral Resources to raise oil lifting capacity to 900,000 barrels per day by 2029. Currently, the average oil lifting in 2024 was 580,000 barrels per day.

"So, we need to increase by around 320,000 barrels. And indeed, to complete this lifting, it requires focus, time, and total work," he said.

Bahlil noted that two months before the end of 2023, Indonesia recorded a lifting figure of 600,000 barrels per day. However, in January 2025, it dropped slightly to 590,000 barrels per day.

In an internal meeting, the President set a target for oil lifting to reach 1 million barrels per day in 2028-2029.

"So that we are able to stop importing oil in 2029," Bahlil said during a speech at the 65th anniversary celebration of the Community Party of Deliberation Family Mutual Aid in Central Jakarta on Saturday night, January 18, 2025.

Meanwhile, the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) aims for oil lifting of 1.61 million barrels of oil equivalent per day (BOEPD) in 2025. This target includes 605,000 barrels of oil per day (BOPD) and 1.01 million BOEPD of gas, as outlined in the State Budget.

Head of SKK Migas, Djoko Siswanto, expressed optimism about reaching this target through strategic programs.

"In 2025, we target more massive drilling, including well stimulation activities, reactivation of idle fields, as well as the application of Enhanced Oil Recovery (EOR), Improved Oil Recovery (IOR), and onstream upstream oil and gas projects," he said in a statement on Tuesday, December 31, 2024.