The Special Task Force for Upstream Oil and Gas Business Activities confirmed that TotalEnergies, a French multinational oil and gas company, has the potential to return to Indonesia and is exploring opportunities to acquire the Bobara exploration oil and gas block.
"Yes (the exploration process is ongoing)," said Head of the Oil and Gas Prospectivity Division and SKK Migas Work Area Data Management Asnidar when contacted by ANTARA from Jakarta, Monday.
TotalEnergies through its subsidiary, Total E&P Indonesie, focuses on oil and natural gas exploration and production. Total E&P Indonesie had worked on the Mahakam Block, East Kalimantan, before the block was transferred to PT Pertamina Hulu Mahakam in 2018.
Now, Asnidar confirmed that TotalEnergies is exploring the opportunity to acquire the Bobara exploration oil and gas block which is being worked on by Malaysian oil and gas company Petronas. TotalEnergies and PHE are reportedly going to acquire around 25 percent of Petronas' shares in the block.
According to Asnidar, the potential return of TotalEnergies to the Indonesian upstream oil and gas industry reflects an increase in confidence in the investment climate in Indonesia.
"We continue to push for this (improving the investment climate) together with the government," said Asnidar.
For information, the Bobara Working Area (WK) is located offshore or offshore West Papua. Previously, the production sharing contract for the Bobara WK was signed by Petronas at the 2024 Indonesia Petroleum Association Conference and Exhibition.
Petronas signed the Bobara WK Production Sharing Contract which is the result of the 2023 Phase III Work Area auction through Petronas E&P Bobara Sdn Bhd.
By signing the Cooperation Contract (KKS), the government hopes that the Cooperation Contract Contractors (KKKS) can maintain the sustainability of their production and exploration commitments.
