Indonesia Targets South American Oil Fields to Curb Middle East Reliance

Domestic crude production currently sits at 600,000 barrels per day, leaving a significant deficit against a national demand of 1.6 million barrels. By shifting toward direct ownership in South American assets, Jakarta aims to stabilize its energy imports and reduce vulnerability to disruptions in the Strait of Hormuz. The push follows recent efforts to diversify, including the arrival of the first Russian crude cargo earlier this summer.

Guyana offers a proven landscape, with an Exxon-led consortium already extracting 900,000 barrels per day from the Stabroek block. Suriname is similarly positioned, with TotalEnergies advancing the $10.5 billion GranMorgu project, scheduled to reach first oil by 2028. For Indonesia, these partnerships represent a strategic pivot, transforming the country from a passive buyer of Middle Eastern oil into a stakeholder in the next generation of South American production hubs.