Jakarta. Indonesia's oil production has shown significant improvement over the past two months, reaching 600,000 barrels of oil per day (BOPD) in November and December 2024, up from 580,000 BOPD in August, according to Energy and Mineral Resources Minister Bahlil Lahadalia.

"When I was appointed as Minister in August 2024, the daily oil lifting stood at around 580,000 BOPD," Bahlil said. "In the last two months, it has risen to 600,000 BOPD," Bahlil said on Friday.

This surge in production is seen as a positive sign for the country's oil production performance in 2025. The Indonesian government has set a target of 605,000 BOPD for 2025, according to the 2025 State Budget (APBN). Bahlil expressed confidence that the country's oil production could exceed this target.

"With this momentum, we are optimistic that the lifting target for 2025 can be surpassed," Bahlil added.

Indonesia's oil production has faced a decline over the years. In 2020, the country's oil lifting reached 707,000 BOPD, but it fell to 660,000 BOPD in 2021 and continued to drop to 612,000 BOPD in 2022. In 2023, it further declined to 606,000 BOPD.

"Historically, oil production targets in the APBN have often not been met," Bahlil said. "This time, we are focused on improving production and, God willing, we will surpass the target."

Additionally, Indonesia's oil and gas imports for the January-November 2024 period reached $32.98 billion, a 26.32 percent decrease compared to the same period last year.