Jakarta. Investment in Indonesia’s energy and natural resources sector reached $31.7 billion in 2025, equivalent to about Rp 533 trillion, the Energy and Mineral Resources Ministry said on Friday.

Energy and Mineral Resources Minister Bahlil Lahadalia said the investment came from mining, oil and gas, electricity, and new and renewable energy as well as energy conservation, with oil and gas accounting for the largest share.

“Total investment in the energy and natural resources sector in 2025 stood at $31.7 billion,” Bahlil said at the ministry’s office in Jakarta.

Oil and gas attracted around $18 billion, making it the biggest contributor, followed by mining, power generation, and renewables.

Bahlil also said state non-tax revenue (PNBP) from the sector remained strong, reaching hundreds of trillions of rupiah, even as prices of several key global commodities declined.

Revenue from the mining sector exceeded expectations. From a target of Rp 127.44 trillion, realized PNBP reached Rp 138.37 trillion, or 108.56% of the target, despite weaker coal and mineral prices.

The oil and gas segment, however, fell short of its revenue goal. While lifting reached 605,300 barrels per day, PNBP from oil and gas totaled only about Rp 105.4 trillion, below the Rp 125 trillion target set in the state budget.

Bahlil attributed the shortfall to lower-than-assumed crude prices. The 2025 budget was based on an Indonesian Crude Price (ICP) assumption of $82 per barrel, but average global oil prices from January through year-end hovered around $68 per barrel.

“The lifting target was met, but lower prices directly reduced state revenue from oil and gas,” he said.

Overall, Bahlil said resilient non-tax revenue performance amid falling commodity prices underscored Indonesia’s fiscal strength and the effectiveness of managing its natural resource sectors.

“This is the result of teamwork that requires innovation, focus, and total commitment. We need this revenue because the state needs funds to finance people-oriented programs,” he said.