The Ministry of Energy and Minerals of Indonesia has confirmed EnQuest (and its joint venture partners) as the winning bidder for two Production Sharing Contract (‘PSC’) blocks in Papua Barat, Indonesia: Gaea and Gaea II.
These blocks present a multi-Tscf unrisked resource potential for EnQuest and its joint venture partners, and are located as shown above.
Subject to the execution of the PSC, EnQuest will be designated as the PSC operator with a 40% working interest, working with its joint venture partners, the Tangguh Joint Venture (40% working interest, comprising BP Exploration Indonesia Limited, MI Berau B.V. (an INPEX and Mitsubishi joint venture company), CNOOC Southeast Asia Limited, ENEOS Xplora Inc., Indonesia Natural Gas Resources Muturi, Inc. and KG Wiriagar Petroleum Ltd (a Mitsui company)) and PT Agra Energi Indonesia (20% working interest).
The announcement marks EnQuest’s entry into Indonesia, a country that offers a broad range of growth opportunities that span the full upstream lifecycle. This step further expands EnQuest’s South East Asian footprint, adding to the Group’s growing momentum in the region, having recently secured an extension to its gas production in Malaysia and signing of an acquisition of Harbour Energy’s Vietnam business.
