Singapore – Conrad Asia Energy Ltd (ASX:CRD) (“Conrad” or “the Company”) welcomes the announcement of Indonesia’s 2026 State Budget and the Government’s updated 10-year electricity supply plan (RUPTL 2024-2033), both of which highlight the country’s strong economic trajectory and long-term demand for natural gas as a key component of the national energy mix.
President Prabowo Subianto’s first budget reflects a confident outlook for Indonesia, targeting 5.4% GDP growth in 2026 while maintaining a fiscal deficit of just 2.5% and charting a path toward budget balance by 2027-28. As part of the US$234 billion (3,787 trillion rupiah) 2026 State Budget, the increased public spending will be directed toward energy security, infrastructure, and social welfare programs, underpinning sustainable long-term growth.
In parallel, the 2024-2033 RUPTL outlines a significant expansion of national electricity capacity. By 2040, the Indonesian Government projects an additional 102 GW of new generation capacity, with around 75% from renewable sources and about 20% dedicated to gas-fired power plants. This includes approximately 22 GW of new gas capacity at more than 100 distributed locations across Indonesia, highlighting the critical role of gas as a transitional and stabilising fuel to complement intermittent renewables.
Positioned for Growth
Conrad Asia Energy is strategically positioned to support this transition through its gas development projects in Indonesia. The Indonesian Government’s commitment to distributed gas power plants ensures a strong demand profile for domestic gas production, particularly for projects capable of delivering reliable supply into local markets. Conrad’s portfolio is well aligned with these national priorities, providing a platform for long-term value creation for both Indonesia and shareholders.
Commenting on these important developments, Conrad Managing Director and CEO Miltos Xynogalas said:
“The Indonesian Government’s latest budget and energy roadmap provide a clear framework for growth, balancing ambitious renewable energy targets with continued investment in gas as a reliable and flexible power source. Conrad Asia Energy is ready to play a leading role in meeting this demand, supporting energy security and economic development.”
Outlook
With Indonesia strengthening its fiscal base and accelerating investment in energy infrastructure, Conrad Asia Energy remains a key partner in delivering secure, reliable, and cleaner energy solutions. The Company’s gas projects including Mako are set to play an integral role in powering Indonesia’s growth while supporting the transition to a more sustainable energy future.
ENDS
Additional news sources:
The Straits Times, ‘Indonesia’s 2026 budget designed to make the country strong, President Prabowo says’, 15 August 2025
Reuters, ‘Indonesia unveils 2026 budget with lower deficit, targets fiscal balance within three years’, 15 August 2025
Tempo English, ‘Prabowo Optimistic Indonesia Will Reach 100% Renewable Power by 2050’, 15 August 2025
Media kit:
- Image of Offshore Drilling Rig
- Image of Location of Conrad's Gas Project Assets
- Conrad May 2025 Investor Presentation
About us:
About Conrad Asia Energy
Conrad is an Asia-focused natural gas exploration & production company concentrated on the shallow waters offshore Indonesia, and via its wholly owned subsidiaries, is the holder of several operated tenements in the form of Production Sharing Contracts. The Company’s flagship project is the Mako Gas Field located in the Natuna Sea in the shallow offshore waters of Indonesia. The Mako gas field is one of the largest gas discoveries in the region.
The Company specialises in the identification and acquisition of undervalued, overlooked, and/or technically misunderstood gas assets, and has developed expertise in maturing such assets through subsurface technical work, appraisal drilling and an innovative approach to low-cost field development.
The Board and management have a proven track record of value creation and deep industry experience with oil majors, midcap E&P and the upstream investment community, together with a successful track record of bringing exploration and development projects into production, with Peter Botten the founder and Chairman of Oil Search adding enormous depth and experience as Chairman of Conrad.
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Website: https://conradasia.com
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Contact details:
Jane Morgan
Investor & Media Relations
M: +61 405 555 618
[email protected]