Pertamina Eyes Nigerian Oil Assets as Both Countries Pursue Increased Production

Pertamina, Indonesia's national oil company, is exploring opportunities in Nigeria and has expressed interest in participating in the country's upcoming 2026 licensing round. The move comes as both countries aim to increase their oil production levels.

Nigeria currently produces approximately 1.7 million barrels per day (bpd) and targets 3 million bpd by 2030, while Indonesia aims to reach 2.3 million bpd from domestic fields alone is not feasible. Pertamina's Vice President for upstream business development, Toriq Abdat, stated that the company is looking for producing assets or projects close to production.

The meeting between Nigerian and Indonesian officials also touched on the topic of energy security, resource utilization, and attracting investments in the oil and gas sector. Both countries acknowledged the importance of diversifying their phosphate sourcing and simplifying fertilizer distribution rules.