Indonesia Courts Russian Capital for 138 Newly Opened Energy Blocks

Indonesia has invited Russian companies to participate in the development of 138 newly opened energy exploration blocks, signalling a broadening agenda for commercial cooperation between Jakarta and Moscow. The invitation spans exploration, technology and joint industrial projects, while Indonesia maintains that it has ample liquefied natural gas supply for certain domestic needs.

A direct invitation at the Eastern Economic Forum

President Prabowo Subianto made the invitation during the Eastern Economic Forum in Vladivostok, Russia, where he attended as a guest of honour. Speaking at the forum, he said Indonesia had invited Russian groups and companies, together with their technology, to take part in the newly opened blocks.

Key development: Indonesia has opened 138 energy exploration blocks and invited Russian companies to invest and participate in their development.

The message is notable for its breadth. It was not framed simply as a request for commodity supply: the president pointed to the prospective role of Russian technology and to jointly developed energy projects. That distinction matters for investors assessing Indonesia’s evolving industrial relationships. Exploration blocks can bring together capital, technical capability and local partners over extended project timelines, while storage and refining projects represent different forms of participation in the energy value chain.

The source did not specify the locations of the blocks, the investment terms available to Russian groups, or which companies may participate. Those details will be important for investors to monitor as any prospective projects move from political invitation to commercial agreements.

LNG supply does not rule out technology partnerships

Prabowo said Indonesia has an ample supply of liquefied natural gas, or LNG, and therefore does not directly require Russian gas supplies in certain sectors. Yet he also made clear that Indonesia remains open to Russian technology and to joint energy projects.

This is an important distinction in the president’s presentation of the relationship. The proposed cooperation is not described as dependence on imported Russian gas. Instead, it is presented as an opening for companies with relevant expertise to work alongside Indonesian counterparts in exploration and associated infrastructure.

The areas under discussion include:

• Development of the 138 newly opened energy exploration blocks;
• Joint energy projects with Russian groups;
• Refineries;
• Storage terminals; and
• The use of Russian technology.

For international investors, the substance of these projects will depend on how responsibilities, financing and ownership are ultimately structured. The announcement itself establishes an invitation and a stated willingness to explore cooperation; it does not provide project-level financial commitments, production targets or delivery schedules.

Cooperation extends to fertiliser and minerals

Energy was only one strand of the agenda described by the president. He said Indonesia-Russia cooperation is also expanding into fertiliser production and mineral processing.

In fertiliser, Prabowo said that an Indonesian fertiliser company and one of Russia’s largest business groups had signed a memorandum of understanding. The MoU concerns joint investment in a gas-based fertiliser production project in the Russian Far East.

A memorandum of understanding is an expression of intended cooperation, rather than in itself a completed investment or operating asset. Nevertheless, it places fertiliser alongside energy as an area in which the two countries are considering industrial collaboration.

In mineral processing, Prabowo said Indonesia is working with Rusal, the Russian aluminium producer. He added that Rusal would enter Indonesia on a large scale to develop a refinery with local partners.

Indonesia’s stated agenda with Russia now reaches across energy exploration, refining and storage, gas-based fertiliser production, and mineral processing.

The source does not identify the refinery’s location, capital structure, development timetable or local partners. Investors should therefore distinguish between the president’s announcement of planned participation and the eventual disclosure of contractual, regulatory and operational details.

A wider commercial engagement

Prabowo affirmed that Indonesia remains open to expanding cooperation with Russia across sectors. His appearance at the 11th Eastern Economic Forum followed his attendance at the St. Petersburg International Economic Forum in 2025, according to Antara.

That continued engagement provides the setting for the latest invitation. The economic agenda described in Vladivostok combines upstream energy opportunities with potential downstream industrial projects. It also places Russian participation alongside Indonesia’s stated preference for technology transfer and collaboration with local partners.

For businesses and investors, the practical significance will lie in the next stage: whether expressions of interest become defined projects, which legal and commercial arrangements are used, and what disclosures emerge around individual exploration blocks, terminals, refineries and processing facilities. None of those terms were set out in the source report.

What this means for investors

The immediate takeaway is an official invitation, not a completed portfolio of projects. Investors should view the announcement as evidence that Indonesia is actively seeking Russian participation in a broad set of energy and industrial opportunities.

Several points deserve particular attention:

• Exploration scope: the invitation covers 138 newly opened energy exploration blocks, but the source provides no block-by-block location or investment information.
• Technology focus: Indonesia says it is open to Russian technology and joint projects even while it cites ample LNG supply for certain sectors.
• Industrial breadth: discussions encompass refineries and storage terminals, alongside a gas-based fertiliser project in the Russian Far East and mineral processing in Indonesia.
• Project specificity: the fertiliser MoU and Rusal refinery plan should be assessed separately from completed investments, as the source does not disclose financial, operational or timing details.

The announcement offers a clear indication of Jakarta’s willingness to widen commercial ties with Russia. Investors now have reason to watch for the project-level agreements that could turn that policy signal into investable opportunities.

Stay informed, subscribe to the free Lombok Briefing for analysis like this, published twice a month.