Indonesia’s state-owned oil company has expressed interest in acquiring oil assets in Nigeria and participating in the Federal Government’s 2026 upstream licensing round.
Gatekeepers News reports that the interest was disclosed during a meeting between officials of the Indonesian oil company and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The Indonesian firm said it had been mandated to expand its international operations and was assessing opportunities in several countries, including Nigeria.
“We have been given a mandate to expand our business internationally; we are now in other countries outside Indonesia,” a senior official of the company said.
The firm said it was interested in producing assets, projects close to production and developments approaching a final investment decision (FID).
“We would like to be in projects with governments. Producing assets, or near production, or before FID,” the official said.
The company also expressed interest in supporting Nigeria’s efforts to increase crude oil output while securing additional energy supplies for Indonesia.
“Now we are looking at how we can help you reach the 3 million, and also help us provide more energy for our own consumption,” the official said.
NUPRC officials said the discussions were part of efforts to attract more international investment into Nigeria’s upstream petroleum industry.
The commission is preparing for the 2026 licensing round, which is expected to offer oil and gas blocks to investors as the government seeks to increase production and develop previously unallocated acreage.
The Indonesian company’s interest comes as Nigeria continues efforts to attract fresh capital into the petroleum sector and increase crude production.
