PT Pertamina (Persero), through its subsidiary PT Pertamina Hulu Energi (PHE), has officially acquired a 24.5 percent participating interest or shares owned by Petroliam Nasional Berhad (Petronas) in the Bobara Block, located in the ultra-deepwater offshore area of West Papua.

The acquisition was formalized through the signing of a Farm-Out Agreement (FOA) under the Production Sharing Contract (PSC) for the Bobara Block, between PT Pertamina Hulu Energi Bobara and Petronas E&P Bobara Sdn. Bhd. The signing took place during the 47th ASEAN Summit 2025, held in Kuala Lumpur, Malaysia, on Saturday (October 26).

With the signing of the FOA PSC for the Bobara Block, PHE will now officially hold a 24.5 percent participating interest, alongside Petronas and TotalEnergies, within the same working area.

“Today’s signing ceremony is not merely a contractual milestone, but also a tangible reflection of the Malaysia-Indonesia energy partnership. It demonstrates complementary synergies, as well as our shared responsibility in strengthening regional energy resilience and promoting sustainable development,” said Simon Aloysius Mantiri, President Director of PT Pertamina (Persero), in an official written statement, Monday (October 27).