Indonesia's Pertamina signals interest in Nigeria's 2026 oil licensing round

Pertamina, Indonesia's state-owned petroleum firm, has signalled potential investment interest in Nigeria's upstream oil and gas operations, presenting fresh collaboration prospects for the nation's energy sector. Recent meetings between NUPRC Chief Executive Oritsemeyiwa Eyesan, Arif Havas Oegroseno (Indonesia's Vice Minister of Foreign Affairs), and Toriq Abdat (Pertamina's Vice President for Upstream Business Development) yielded this development.

During these discussions, attention focused on Nigeria's forthcoming 2026 licensing round. Pertamina examined possibilities involving producing properties and ventures approaching final investment decision stages.

The two countries recognised mutual aims: bolstering energy security, optimising resource deployment, and mobilising global investment flows. Nigeria's NUPRC continues outreach efforts with international petroleum operators to reinforce its investment landscape.

Should Pertamina proceed, such involvement may aid Nigeria's push toward raising crude extraction to three million barrels per day throughout 2030. During bilateral talks, the Indonesian company committed support toward realising this ambitious production goal.

This engagement broadens Nigeria's investor roster beyond conventional North Atlantic operators, bringing Southeast Asian financing and operational know-how into Nigeria's exploration and production sector. Through its Communications department, NUPRC released word of these negotiations without disclosing investment magnitudes or concrete schedules beyond the 2026 licensing window.

As an Asian energy heavyweight, Pertamina brings substantial international downstream and upstream track records across multiple petroleum regions and operates diversified hydrocarbon ventures globally.