Pertamina Increases Oil Reserves and Output as US–Venezuela Tensions Rise
Jakarta. Indonesia is stepping up efforts to boost domestic oil production amid global geopolitical uncertainty, including the capture of Venezuelan President Nicolás Maduro by the United States, which could potentially disrupt global oil supplies, the Energy and Mineral Resources Ministry said on Tuesday.
Ministry spokesperson Dwi Anggia said the government is strengthening Indonesia’s energy resilience by increasing strategic oil reserves and optimizing domestic production to reduce exposure to external shocks.
“As an anticipatory measure, we continue to increase national strategic oil reserves and optimize production,” Dwi Anggia said, as quoted by Antara on Tuesday.
According to the ministry, production gains are being pursued through the wider use of advanced technologies and extraction techniques, including hydraulic fracturing, enhanced oil recovery (EOR), and horizontal drilling. These methods are expected to help lift output from mature and declining fields.
The government is also offering a range of incentives to attract upstream oil and gas investment. These include fiscal reforms, faster licensing processes and greater support for exploration activities in frontier areas that are believed to hold untapped reserves.
In addition, authorities are pushing to revive around 4,500 idle oil wells located across several regions of the country, a move aimed at quickly adding incremental production. “The situation, including developments in Venezuela, continues to be closely monitored,” Dwi Anggia said.
The comments come as concerns grow over potential disruptions to global oil supply following heightened tensions in Venezuela. However, Pertamina Internasional Eksplorasi dan Produksi (PIEP), the overseas upstream arm of state-owned energy firm Pertamina, said its assets in Venezuela remain unaffected.
PIEP holds a 71.09 percent stake in French oil and gas company Maurel & Prom (M&P), which operates oil assets in Venezuela. The company said it is maintaining close coordination with the Indonesian Embassy in Caracas to ensure the safety of its personnel and the continuity of operations.
“These efforts are part of the company’s commitment to protecting workers and ensuring operations continue normally,” PIEP said in a statement.
Pertamina has been actively acquiring and managing overseas oil and gas assets to support domestic energy needs and bolster Indonesia’s long-term energy security. The company currently holds upstream assets in 11 countries, including Algeria, Malaysia, Iraq, France, Italy, Tanzania, Gabon, Nigeria, Colombia, Angola and Venezuela.
The government has set an oil and gas production target of 610,000 barrels per day in the 2026 state budget, up from 605,000 barrels per day in the 2025 budget.
Tags: Keywords:Related Articles
Pertamina Deploys More Tankers to Ease West Sumatra Fuel Delays
Pertamina says fuel is not in short supply despite weeks of delays caused by bridge repairs in West Sumatra.Indonesia Mulls Cutting Non-Subsidized Fuel Price
Indonesia is mulling slashing the price of non-subsidized fuel, although this decision hinges on global oil prices.Indonesia Holds Subsidized Fuel Prices as Drivers Abandon Pertamax
Indonesia kept subsidized fuel prices unchanged despite a steep Pertamax hike that triggered long queues for cheaper fuel.Pertamina Raises Pertamax Price by 32% as Global Oil Costs Climb
Pertamina has raised the price of its flagship Pertamax gasoline by more than 32%, while subsidized fuels remain unchanged.Indonesia’s Premium Diesel Nears Rp 28,000/Liter After Sharp Price Hike
Indonesia raises premium diesel prices to record highs while keeping subsidized fuels unchanged to balance costs and stability.Pertamina Locks In 80,000 KL Fuel to Back 2026 Hajj Travel
Pertamina prepares over 80,000 kl of aviation fuel to ensure smooth 2026 hajj flights, with supply secured across 14 embarkation airports.Non-Subsidized Fuel Prices May Rise Again if Oil Stays High, Minister Says
Indonesia may raise non-subsidized fuel prices if oil stays high, while holding Pertamax steady to prevent a shift to subsidized fuels.Economists Call Indonesia’s Fuel Price Hike a Necessary Correction
Indonesia raises non-subsidized fuel prices while keeping subsidies unchanged to protect purchasing power and contain inflation.Pertamina Raises Fuel Prices; Bahlil Says Market Forces at Play
Minister Bahlil Lahadalia defends Pertamina’s fuel price hike, saying non-subsidized products must follow global oil prices.Indonesia Raises Airline Fuel Surcharge by 38% Amid Global Oil Surge
Indonesia raises airline fuel surcharge by 38% to offset rising jet fuel costs while balancing industry sustainability and consumer impact.The Latest
Prabowo Says South Korea's Lee Asked Indonesia to Help Open Dialogue With North Korea
President Prabowo Subianto says South Korea's Lee Jae Myung asked Indonesia to help open dialogue with North Korea.Pullman Hotel Fire in Jakarta Suspected to Stem From Electrical Fault
Police will deploy a forensic team to investigate a fire at Pullman Hotel in West Jakarta, with an electrical fault suspected as the cause.Pertamina Slashes Prices of Three Fuels From Aug. 1
Pertamina cut prices for three non-subsidized fuels from Aug. 1.Trump Too Stubborn to Rejoin Paris Agreement: Indonesian Minister
Indonesia's Environment Minister Jumhur Hidayat says other countries should deal with Trump quitting the Paris Accord.Indofood Sales Rise 9% as Rupiah Weakness Hits First-Half Profit
Indofood’s first-half sales rose 9%, but net profit fell 19% as rupiah weakness increased unrealized foreign-exchange losses.Most Popular
