Petronas Energy Serpang, in association with Inpex and EO Serpang (EOS), have jointly been awarded rights to explore the Serpang Working Area located offshore Eastern Java in Indonesia.
The award comes as part of the second Indonesia Petroleum Bidding Round 2024 hosted by the Ministry of Energy and Mineral Resources of Indonesia.
Japan’s Inpex through its subsidiary, Inpex Serpang, signed a Production Sharing Contract (PSC) with Indonesian upstream regulator SKK Migas as well as Petronas Energy Serpang (PE Serpang) and EO Serpang (EOS).
PE Serpang is the operator with 51% working interest, while Inpex Serpang and EOS hold 35% and 14%, respectively.
The Serpang Working Area is situated in a location where several oil and gas fields have been discovered, approximately 200 kilometers east of Surabaya, the capital city of East Java Province.
This region is expected to generate stable energy demand in the medium to long term. Inpex and its partners anticipate an early transition to development and production activities in the event that exploration activities are successful.
“Inpex expects that its upstream exploration activities in the Serpang Working Area will contribute to the expansion of its natural gas and LNG business as outlined in Inpex Vision 2035 announced in February 2025 as well as the company’s business operations in Southeast Asia, which INPEX positions as a core business area. Inpex is also committed to further strengthening its business in Indonesia and will continue to actively engage in this effort,” the company said in a statement.