Indonesia's state energy company Pertamina, through its upstream unit, has acquired a 24.5 per cent participating interest in the offshore, ultra-deepwater Bobara block in the Papua region from Malaysia's Petronas, Pertamina said in a statement on Monday.
The companies signed the deal on the sidelines of an Association of Southeast Asian Nations (ASEAN) summit in Kuala Lumpur over the weekend, Pertamina said. French TotalEnergies also holds a participating interest in the block.
The Bobara production sharing contract was originally signed between Petronas and SKK Migas during the Indonesian Petroleum Association (IPA) Convention in May 2024.
"Located offshore Papua Barat in Eastern Indonesia, the block represents a key frontier in ultra-deepwater growth opportunity," commented Petronas.
"This bilateral partnership brings together two leading national and international energy players, combining complementary technical strengths, deepwater expertise, and a shared commitment to responsibly unlock new energy resources in support of Indonesia’s sustainable growth."
(Reporting by Bernadette Christina; Editing by David Stanway)
