Oil and gas are non-renewable energy resources and cannot be readily replaced by natural means at a quick enough pace to keep up with consumption. The Ministry of Energy and Natural Resources have stated that Indonesia's oil reserves of around 3,77 billion barrels will run out in about 9 years at today's production rate, while for the gas reserves of 77 trillion cubic feet (TCF), these reserves will be exhausted in around 21 years.
The Indonesian Government continues to accelerate the transition to renewable energy to secure domestic energy supply. Indonesia is set to pursue a renewable energy portion of 23% in the national energy mix in 2025. The declining oil and gas reserves in the last few years have pushed the Government to swiftly develop renewable energy resources.
After years of declining oil production, Indonesia once again aims to reach 1 million barrels of oil per day (BOPD) of production in 2030. A new giant oil and gas discovery is needed to realize this target.