EnQuest together with its three way partnership companions and the Authorities of Indonesia have signed Manufacturing Sharing Contracts (PSCs) for the Gaea and Gaea II exploration blocks, situated in Papua Barat, Indonesia.
Fig. 1 Gaea and Gaea II exploration blocks, situated in Papua Barat, Indonesia
The Gaea and Gaea II blocks current a multi-Tscf unrisked useful resource potential for EnQuest, estimated to be in extra of 100 Tscf by the Ministry of Power and Mineral Sources (see Notes to Editors beneath) and are situated in proximity to the bp-operated Tangguh LNG facility (Fig. 1).
The signing of those PSCs marks EnQuest’s entry into Indonesia. It additionally aligns EnQuest to work intently with the three way partnership companions to appreciate the potential throughout the blocks.
“We’re very proud to have been chosen because the working companion on the Gaea and Gaea II PSC blocks,” commented EnQuest CEO Amjad Bseisu. “This award is a testomony to the belief the Indonesian authorities has positioned in EnQuest, and we’re dedicated to working with the Tangguh Joint Enterprise and PT Agra Energi Indonesia to unlock the complete potential of those blocks.”
The PSCs’ prospectivity could add vital upside to EnQuest’s established Southeast Asia portfolio, a area from which the Group expects to ship greater than 35,000 boed of manufacturing by 2030.
Beneath the PSC phrases, EnQuest has a 40% collaborating curiosity within the blocks and is the PSC operator, alongside its companions, the Tangguh Joint Enterprise (40% collaborating curiosity, comprising BP Exploration Indonesia Restricted, MI Berau B.V. (an INPEX and Mitsubishi three way partnership firm), CNOOC Southeast Asia Restricted, ENEOS Xplora Inc., Indonesia Pure Fuel Sources Muturi, Inc. (an LNG Japan Company), and KG Wiriagar Petroleum Ltd (a Mitsui & Co., Ltd)), and PT Agra Energi Indonesia (20% collaborating curiosity), by their respective newly established entities.
EnQuest will present an extra replace on Gaea and the Group’s broader Southeast Asian and North Sea operations at its half 12 months outcomes on 24 September 2025.
