BP and its partners have signed three production sharing contracts (PSCs) in Indonesia, expanding the company’s upstream portfolio in the country to 11 oil and gas blocks.
Two of the contracts cover the Bintuni and Drawa exploration blocks in Papua Barat near BP-operated Tangguh LNG, while BP also confirmed participation in the INPEX-operated Barong block in East Java.
The agreements were signed with the Indonesian government, represented by upstream regulator SKK Migas, as part of the country’s second Indonesia Petroleum Bidding Round 2025.
At the Bintuni and Drawa blocks, BP’s partners include CNOOC Southeast Asia, MI Berau B.V. (a joint venture between Inpex and Mitsubishi), and Indonesia Natural Gas Resources Muturi (an LNG Japan Corporation).
Following the signing, BP holds a 49% stake in the Barong block, while INPEX Corporation retains 51% and operatorship.
“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.
“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,” said William Lin, EVP gas & low carbon energy.