PETRONAS Awarded the Bobara Working Area in Indonesia Petroleum Bid Round 2023

Jakarta, 1 March 2024 – PETRONAS subsidiary PC North Madura II Ltd, was awarded the Bobara Working Area, located in Offshore West Papua, during the Indonesia Petroleum Bid Round 2023.  This was announced by Indonesia’s Ministry of Energy and Mineral Resources on 20 February 2024.

PETRONAS Vice President of Exploration, Mohd Redhani Abdul Rahman said, “We are thrilled by the favourable outcome of this bid and would like to thank the Government of Indonesia for placing their trust and confidence in us to materialise the hydrocarbon potential within the Working Area.

“This acquisition marks the first PETRONAS-operated deepwater Working Area in the country, which further solidifies PETRONAS’ presence in Indonesia, “he added.

Following the successful bid, PETRONAS will operate and hold 100 per cent equity in this Working Area, which spans an estimated acreage of around 8,400 square kilometres. The - commitment for the first three years involves three Geological and Geophysical (G&G) studies and 3D seismic data acquisition and processing.

The integration of the Bobara Working Area into PETRONAS’ operations in Indonesia underscores the expansion of its business footprint into Eastern Indonesia. The achievement also comes on the heels of the signing of the Sale and Purchase Agreement (SPA) for the Masela Working Area last year.

Presently, PETRONAS is the operator for the Ketapang, North Madura II, and North Ketapang PSCs, located offshore East Java, and is a joint venture partner in seven PSCs located both onshore and offshore Sumatra, Natuna Sea, East Java, as well as East Indonesia.