JAKARTA – President Prabowo Subianto has officially inaugurated the first oil production from the Forel and Trubuk Fields at the Presidential Palace on Friday (16 May). These two oil fields are part of the South Natuna Sea Block B, located in the Riau Islands.

President Prabowo expressed his appreciation for the inauguration of the Forel and Terubuk oil projects, marking the first new oil production under his administration. “This is a historic and significant milestone in our efforts to achieve national energy self-sufficiency,” said President Prabowo.

According to the President, achieving energy self-sufficiency is crucial and vital for national sovereignty. By becoming energy self-sufficient, the government can save on budget expenditure, allowing more benefits to reach the public.

The project is being developed by Medco E&P Natuna Block B Ltd, a subsidiary of PT Medco Energi Internasional Tbk (MEDC). The company holds a 40% participating interest, while Medco Daya Abadi Lestari holds 35%, and Prime Energy holds 25%.

The government is targeting the two oil fields to help boost national oil and gas production to 900,000 barrels per day (bpd) by 2029, up from 580,000 bpd last year. (LK/LM)