The US FDIC has pressed banks to approve Shell and Chevron’s deals to sell shares in Indonesian gas assets to Pertamina, Petronas, and Eni.

This move aims to boost the country’s declining supply and support Indonesia’s production target of one million barrels of oil per day and 12 billion standard cubic feet of gas by 2030.

Pertamina CEO Nicke Widyawati said a final investment decision would be taken in 2026.

Petronas bought Shell’s remaining 15% interest in 2026. Eni acquired Chevron’s IDD gas project share, integrating Eni’s Jangkrik and North Ganal blocks with Bangka, Gendalo, and Gehem gas fields.

The Tuna natural gas project is also being evaluated by Middle Eastern and Asian investors, with Vietnam importing field gas from 2026.

Indonesia’s Energy Minister Arifin Tasrif emphasized the potential of natural gas as a bridge fuel to greener energy, but environmentalists oppose it.