EnQuest PLC has received formal confirmation from Indonesia’s Ministry of Energy and Mineral Resources that the company and its joint venture partners have been awarded two production sharing contract (PSC) Oil and Gas blocks—Gaea and Gaea II—in the Papua Barat province.
The award follows the conclusion of Indonesia’s 2024 Phase II Oil and Gas Working Area Auction, launched in December last year. The auction covered five working areas: Kojo, Binaiya, Serpang, Gaea, and Gaea II. Authorities announced the winning bidders last week.
Pending final execution of the PSC agreements, EnQuest will assume operatorship of both blocks, holding a 40% working interest. The remaining interests will be shared between the Tangguh joint venture—which includes BP Exploration Indonesia Ltd., MI Berau BV (a joint venture of INPEX and Mitsubishi), CNOOC Southeast Asia Ltd., ENEOS Xplora Inc., Indonesia Natural Gas Resources Muturi Inc., and KG Wiriagar Petroleum Ltd. (a Mitsui affiliate)—with 40%, and PT Agra Energi Indonesia, holding the remaining 20%.
This milestone marks EnQuest’s first entry into the Indonesian upstream sector and further strengthens its strategic footprint in Southeast Asia. The company recently secured a gas production extension in Malaysia and signed an agreement to acquire Harbour Energy’s assets in Vietnam.
In the same auction, Armada Etan Ltd. was awarded the Kojo block, a consortium led by Pertamina secured Binaiya, and North Madura II Ltd. led the successful bid for the Serpang block.