Peraturan Menteri Keuangan 64/2026 (Peraturan Menteri Keuangan Nomor 64 Tahun 2026 tentang Petunjuk Teknis Akuntansi Penerimaan Negara Bukan Pajak dari Kegiatan Usaha Hulu Minyak dan Gas Bumi) is an Indonesian ministerial regulation that sets the technical accounting guidelines for the non-tax state revenue (Penerimaan Negara Bukan Pajak, PNBP) the state earns from upstream oil and gas activity. It was signed by the Minister of Finance, Purbaya Yudhi Sadewa, in Jakarta on 21 August 2026 and promulgated on 27 August 2026, the day it took effect, and it revoked the earlier guidelines of 2023, PMK 115/2023.^[1][2] It sits where public finance and non-tax revenue in Indonesia meets mining and energy regulation in Indonesia.

The regulation itself has seven articles. They define three groups of oil and gas revenue, base the guidelines on accrual-based government accounting standards, name the Ministry of Finance work unit that applies them, and place the guidelines in an annex of three modules: general accounting, the book transfers made from the state's oil and gas account at Bank Indonesia, and the measurement of natural-resource revenue contractor by contractor as the basis of revenue-sharing funds for the regions.^[3][4][5][6] The guidelines apply from the financial statements for fiscal year 2026.^[7]

The annex explains why oil and gas revenue departs from the gross-basis rule of government accounting: revenue paid into the oil and gas account is recognised only after the government's obligations under the production sharing contracts have been reserved, and revenue affected by a specified natural gas price is recorded net. It also records the audit findings of the Audit Board (Badan Pemeriksa Keuangan, BPK) that prompted a formal method.^[8] CRPG's regulatory tracker reported the regulation on 10 October 2026.^[9]

¶ Background

The preamble gives the reason for replacing PMK 115/2023: the accounting policy for upstream oil and gas PNBP needed refinement on the disclosure of certain gas prices, the classification of revenue types, the timing of book transfers, changes of nomenclature and the administration of receivables.^[10] The regulation cites as its legal basis Pasal 17 ayat (3) of the 1945 Constitution, the State Ministries Law, UU 39/2008, as amended by UU 61/2024, and Peraturan Presiden 158/2024 on the Ministry of Finance, together with ministerial regulations on the ministry's organisation and on central government accounting policy, among them PMK 100/2025.^[10:1]

The annex sets out the history of the problem. It records that the Audit Board, in its report on the financial statements of the State General Treasurer (Bendahara Umum Negara, BUN), found that the method of calculating natural-resource oil and gas PNBP lacked a formal policy, that the policy for recognising the government's obligations left the balance owed to third parties unrepresentative, that the recording of oil sales paid directly into the state treasury's rupiah account lacked an adequate basis, and that the specified natural gas price policy (Harga Gas Bumi Tertentu, HGBT) was reported without an accounting policy or a monitoring and evaluation mechanism. The Board recommended that the Minister of Finance formally set the calculation method and the reserving of the oil and gas account balance, and regulate the reporting of HGBT and its effect on revenue. The annex presents the guidelines as the ministry's response to those recommendations.^[8:1]

¶ Scope and definitions

Pasal 1 defines twenty terms. Oil and gas PNBP (PNBP Migas) is PNBP managed by the State General Treasurer and made up of three groups. Natural-resource oil and gas PNBP (PNBP SDA Migas) is the state's share of the proceeds of exploiting oil and gas after accounting for the government's obligations under the contract and the law; other natural-resource oil and gas PNBP is revenue from using the resource under the cooperation contract other than the state's share of sales; and other oil and gas PNBP is revenue linked to upstream activity other than from exploiting the resource. The Oil and Gas Account (Rekening Minyak dan Gas Bumi) is a United States dollar account at Bank Indonesia that receives revenue and pays expenses related to upstream activity, and the revenue-sharing fund for oil and gas (Dana Bagi Hasil, DBH SDA Migas) is the regions' portion of natural-resource oil and gas PNBP.^[3:1]

Pasal 2 assigns oil revenue and gas revenue to the first group; revenue from domestic market obligation crude oil and from oil and gas production bonuses to the second; and fines, interest and penalties related to upstream activity, together with other upstream revenue, to the third. The guidelines are prepared on accrual-based Government Accounting Standards (Standar Akuntansi Pemerintahan), refer to the Central Government Accounting Policy, and cover the recognition, measurement, presentation and disclosure of assets, liabilities, equity, revenue and expenses.^[4:1] Under Pasal 3 they are used by the special PNBP work unit for oil and gas (Satker PNBP Migas), as the accounting entity, to prepare its financial statements, and by the proxy of the State General Treasurer to consolidate the Treasurer's statements.^[5:1]

¶ The three modules

Pasal 4 divides the guidelines into three modules, set out in the annex.^[6:1] The first, on general accounting, explains the departure from the gross basis. Revenue paid into the Oil and Gas Account cannot yet be recognised in full because the government's obligations must first be met from it, among them land and building tax on oil and gas, value added tax reimbursements, contractor underlifting, upstream fees and regional taxes; the annex links this to the "assume and discharge" principle in production sharing contracts. Revenue affected by HGBT is likewise recorded net, so the adjustment for the price policy is not recognised as an expense.^[8:2] The module requires the notes to the financial statements, at least for the first half-year and annual reports, to disclose for each case affected by HGBT the contractor, the working area, the government's entitlement at the initial price, the reduction in that entitlement, the amount by which the contractor is kept whole, the total adjustment and the government's net entitlement, together with the types of industry using the price.^[11]

The second module governs the book transfers out of the Oil and Gas Account, which the annex describes as a transitory account whose origins it traces to a cabinet instruction of December 1966. Funds leave the account in three ways: to the state treasury account, where they are recognised as revenue; to beneficiaries, in payment of the government's obligations; and in other transfers such as the return of funds paid in error. Before revenue is transferred, the balance is reserved against the government's obligations, including domestic market obligation fees, oil and gas land and building tax, value added tax reimbursements, surface water and groundwater taxes, underlifting and sales fees, and against deferred revenue that cannot yet be identified or that arrived after the last cut-off.^[12]

The third module sets the method for measuring natural-resource oil and gas PNBP per contractor. The annex explains that this revenue is shared between the central government and the regions under the central-regional fiscal relations law, UU 1/2022, and that the per-contractor figures, prepared by the Directorate General of Budget, are passed to the Directorate General of Fiscal Balance to calculate each producing region's allocation. It provides both for a prognosis of realised revenue, built from the first-half realisation and the implementing agency's shipment reports, and for the final realisation used to settle under- or over-payments to the regions.^[13]

¶ Application and revocation

Pasal 5 applies the guidelines from the preparation of the financial statements for fiscal year 2026. Pasal 6 revokes PMK 115/2023 on the regulation's entry into force, and Pasal 7 brings the regulation into force on promulgation.^[7:1] The closing formula in the held text records the signing in Jakarta on 21 August 2026 but leaves the promulgation date and the State Gazette (Berita Negara) number blank; the Ministry of Finance's legal database records promulgation on 27 August 2026 in Berita Negara 2026 No. 596.^[1:1][2:1]

¶ See also

• PMK 3/2025
• PMK 62/2026

¶ External links

• PMK 64 Tahun 2026 (JDIH Kementerian Keuangan)
• CRPG: Accounting Guidelines for Upstream Oil and Gas Non-Tax Revenue: PMK 64/2026 (crpg.id, 10 October 2026)

¶ References