Kuwait Foreign Petroleum Exploration Company (KUFPEC) has announced plans to invest up to USD 10 billion in Indonesia’s oil and gas sector. The Indonesian Ambassador to Kuwait disclosed the investment during a meeting with Commission XII of the Indonesian House of Representatives in early 2025.
The Chairman of Commission XII of the Indonesian House of Representatives welcomed Kuwait’s investment plans, recognizing their alignment with the government’s goal of achieving energy self-sufficiency and supporting an 8% economic growth target over the next five years. He further stated that through the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas), the government has made several oil and gas blocks available for investment.
Kuwait currently holds two oil and gas blocks and has previously invested in the Natuna Block. The Chairman underscored the need to accelerate Kuwait’s investment to ensure greater scale and tangible impact. He also noted that, according to the Ministry of Investment projections, investment growth is expected to reach IDR 3 thousand trillion (USD 180 billion) by 2027, with a steady upward trend beginning in 2025.
The Indonesian Ambassador to Kuwait conveyed her appreciation for the support of Commission XII of the House of Representatives of the Republic of Indonesia. She stated that KUFPEC, Kuwait’s state-owned oil and gas company, has committed to investing up to USD 10 billion in Indonesia, beginning with an initial investment of USD 1 billion.
(Source: Asiatoday)
