BP signs three production sharing contracts in Indonesia

BP has signed three new production sharing contracts (PSCs) in Indonesia at the Indonesian Petroleum Association Convention & Exhibition 2026, bringing BP’s total participation in Indonesia’s oil and gas blocks to 11.

This agreement reflects BP’s long-term commitment to continue investing and supporting energy resilience and Indonesia’s economic growth. ‘We already have world-class assets in Indonesia,’ said William Lin, BP’s Executive Vice President for Gas & Low Carbon Energy, in a statement confirmed by ANTARA from Jakarta on Friday.

Two of the three new PSCs cover the Bintuni and Drawa exploration blocks located near the Tangguh LNG facility, operated by BP in Papua Barat, thus opening the potential for development in a shorter timeframe.

In addition, BP is participating in the Barong block in East Java, operated by INPEX.

The agreement, he said, is part of the 2025 Phase II Working Area Offering for the oil and gas sector organised by the Ministry of Energy and Mineral Resources (ESDM).

The agreement was signed by BP and the Government of Indonesia, represented by SKK Migas, and witnessed by the Minister of ESDM Bahlil Lahadalia.

‘If this exploration is successful, the proximity of these two new blocks to our existing facilities will support the development and production of resources from these blocks in the future,’ William Lin said.

The Production Sharing Contracts were signed at the Indonesian Petroleum Association Convention & Exhibition 2026. BP’s partners in the Bintuni and Drawa blocks are CNOOC Southeast Asia Limited, MI Berau B.V. (a joint venture between INPEX CORPORATION and Mitsubishi Corporation) and Indonesia Natural Gas Resources Muturi, Inc. (part of LNG Japan Corporation).

Following the signing of the agreements, BP became a 49 percent partner in the Barong block with INPEX CORPORATION, which acts as operator with 51 percent ownership.

‘This year marks 60 years of BP’s presence in Indonesia. Through the dedication of our regional team and a continued focus on safety and operational performance, we hope to continue working with the government and partners to support energy resilience and Indonesia’s development goals going forward,’ he said.