The Indonesian government has agreed to extend ExxonMobil’s operations at the Cepu Block in Central Java until 2055, Energy and Mineral Resources Minister Bahlil Lahadalia confirmed. The extension comes with a fresh investment commitment of $10 billion.

The current license for the Cepu Block, one of Indonesia’s largest oil-producing fields, was due to expire in 2035. With the new agreement, ExxonMobil will continue operations for another 20 years, securing a major portion of the country’s oil output. Bahlil noted that the Cepu Block contributes about 30% of national production, roughly 170,000 to 185,000 barrels per day.

The deal is part of a broader trade framework between Indonesia and the United States, signed in Washington on February 19, which also includes a $15 billion import plan of U.S. energy commodities. These imports will consist of $3.5 billion in liquefied petroleum gas, $4.5 billion in crude oil, and $7 billion in gasoline.

Officials are also reviewing a revised cost and revenue-sharing arrangement between ExxonMobil and the Indonesian government, though details have not yet been finalized.

At the same time, Indonesia is pushing to reduce fossil fuel imports, aiming to phase out low-quality diesel imports this year while expanding domestic biodiesel production from palm oil.