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Jakarta, 16 April 2025 – PETRONAS through its subsidiary, PC North Madura II Ltd., has been awarded Production Sharing Contracts (PSCs) for the Serpang and Binaiya Working Areas under the secondIndonesia Petroleum BidRound 2024 (2nd IPBR 2024), which commenced on 3 December 2024.
Under the Serpang PSC, PETRONAS holds the operatorship in partnership with INPEX and SK earthon Co., Ltd. For the Binaiya PSC, Pertamina Hulu Energi (PHE) is the operator, with PETRONAS and SK earthon Co., Ltd. as partners.
For both PSCs, the initial three-year work commitments include conducting three geological and geophysical studies, as well as the acquisition and processing of 400 square kilometres of 3D seismic data.
PETRONAS is currently the operator for the Ketapang, North Madura II, and North Ketapang PSCs, located offshore East Java, as well as Bobara PSC in West Papua offshore. PETRONAS is also a joint venture partner in five PSCs located both onshore and offshore Sumatra, Natuna Sea, East Java, as well as East Indonesia.
