Pertamina Eyes Nigeria’s 2026 Oil Licensing Round
Nigeria and Indonesia have begun talks on oil investments as Indonesian national oil company Pertamina expresses interest in Nigeria's 2026 Licensing Round.
The discussions were initiated by a meeting between NUPRC Chief Executive, Mrs Oritsemeyiwa Eyesan, Indonesia's Vice Minister of Foreign Affairs, Arif Havas Oegroseno, and Toriq Abdat, Vice President, Upstream Business Development, Pertamina.
Nigeria is seeking to increase its oil production to 3 million barrels per day by 2030, while Indonesia produces about 600,000 bpd. Pertamina is exploring opportunities in countries including Malaysia, Iraq, and Nigeria, and is open to both competitive bidding and bilateral arrangements with governments.
The company expressed interest in opportunities beyond crude oil and natural gas, particularly in the fertiliser sector, as it develops a fertiliser plant to reduce Indonesia's dependence on supplies from the Middle East amid global conflicts.