Indonesia Sets Its Sights on Guyana and Suriname for Oil Stakes to Bolster Energy Security

At a recent press briefing, Indonesia’s foreign ministry made it clear that the state‑run oil champion, Pertamina, is already talking to partners in Guyana and Suriname about possible upstream investments. The message was plain: diversify or risk being left high‑and‑dry when traditional supply routes wobble.

“Investing means we actually own a piece of the source,” said Grata Endah Werdaningtyas, director‑general for American and European affairs. In other words, a minority equity stake in a South American field would act like a safety valve, ensuring that crude flows to Jakarta are less vulnerable to geopolitics.

Indonesia today produces roughly 600,000 barrels of crude a day, yet its appetite is more than double that—about 1.6 million barrels daily. The gap has been filled for years by imports, most of them from the Middle East. But the Iran‑Israel conflict, the occasional hiccup at the Strait of Hormuz, and even a brief flirtation with Russian crude have all nudged Jakarta to look elsewhere.

Guyana, blessed with the massive Stabroek block that now pumps close to 900,000 bpd under an Exxon‑led consortium, is quickly becoming the poster child for a new oil frontier in South America. Its neighbor, Suriname, isn’t far behind. The tiny country is rolling out a series of offshore blocks, the most talked‑about being Block 58—dubbed GranMorgu—where TotalEnergies is steering a $10.5 billion project slated to spit out oil by 2028.

For Pertamina, the appeal is two‑fold. First, a slice of these fast‑growing projects would shave off a chunk of Indonesia’s reliance on Middle‑Eastern barrels. Second, the move could eventually translate into tighter, possibly cheaper, supply contracts—something every refiner in the archipelago is keen to lock down.

It’s not just about the numbers, though. The Indonesian government sees the venture as a strategic hedge against future shocks, a way to keep the lights on and the economy humming even when global supply chains get jittery. As the official put it, “ownership gives us security.”

While the talks are still in an exploratory phase, the intent is unmistakable: Jakarta wants a seat at the table in the South American oil boom, and it’s ready to pay for it—albeit with a modest, minority share rather than a full‑blown takeover.

Whether the negotiations will blossom into concrete deals remains to be seen, but one thing is clear—Indonesia is no longer content to watch the world’s oil markets from the sidelines. It’s stepping onto the stage, and Guyana and Suriname are the new co‑stars in the act.