20 May bp signs Production Sharing Contracts in Indonesia
(Oilandgaspress) -–bp and its partners signed three Production Sharing Contracts (PSC) in Indonesia, bringing bp’s total participation in oil and gas blocks in the country to 11.
Two of the PSCs are for the Bintuni and Drawa exploration blocks, which are located near existing bp-operated Tangguh LNG in Papua Barat, creating potential for short-cycle development. bp also confirmed its participation in the INPEX-operated Barong block in East Java.
The agreements, part of the second Indonesia Petroleum Bidding Round 2025 hosted by the Ministry of Energy and Mineral Resources of Indonesia, were signed today between bp and the Government of Indonesia, represented by the SKK Migas, and were witnessed by Minister of Energy and Mineral Resources, Bahlil Lahadalia.
“These agreements demonstrate our ongoing investment in Indonesia’s energy security and economic growth. We already have world-class assets in the country, and, subject to success, the proximity of two of these new blocks to our existing infrastructure could support the potential future development and production of these resources,” said William Lin, EVP gas & low carbon energy.
“This year marks bp’s 60th in Indonesia and, through our dedicated regional team and continuous focus on safety and operational performance, we look forward to working with the government and our partners to continue supporting the country’s energy resilience and development objectives for years to come.”
The PSCs were signed at the Indonesian Petroleum Association Convention & Exhibition 2026. At the Bintuni and Drawa blocks, bp partners comprise CNOOC Southeast Asia Limited, MI Berau B.V. (a joint venture between INPEX CORPORATION and Mitsubishi Corporation) and Indonesia Natural Gas Resources Muturi, Inc. (an LNG Japan Corporation). Following the agreement signing, bp is a 49% partner in the Barong block along with INPEX CORPORATION (51%, operator).
Information Source: Read More
No Comments