BP Signs Three Production Sharing Contracts In Indonesia

BP and its partners have signed three Production Sharing Contracts (PSCs) in Indonesia, bringing BP’s total participation in oil and gas blocks in the country to 11.

Two of the PSCs are for the Bintuni and Drawa exploration blocks, which are located near the existing BP-operated Tangguh LNG facility in Papua Barat, creating potential for short-cycle development.

BP also confirmed its participation in the INPEX-operated Barong block in East Java.

The agreements, part of the second Indonesia Petroleum Bidding Round 2025 hosted by Indonesia’s Ministry of Energy and Mineral Resources, were signed between BP and the Government of Indonesia, represented by SKK Migas, and witnessed by the Minister of Energy and Mineral Resources, Bahlil Lahadalia.

“These agreements demonstrate our ongoing investment in Indonesia’s energy security and economic growth,” said William Lin, executive vice president for gas and low carbon energy at BP.

“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,” he added.

“This year marks BP’s 60th anniversary 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.”

The PSCs were signed at the Indonesian Petroleum Association Convention & Exhibition 2026.

At the Bintuni and Drawa blocks, BP’s partners include CNOOC Southeast Asia Limited, INPEX CORPORATION and Mitsubishi Corporation through MI Berau B.V., as well as Indonesia Natural Gas Resources Muturi, Inc., a subsidiary of LNG Japan Corporation.

Following the agreement signing, BP holds a 49 percent stake in the Barong block alongside INPEX CORPORATION, which holds 51 percent and serves as operator.