INPEX CORPORATION (INPEX) announced today that it has jointly been awarded rights to explore the Serpang Working Area located offshore Eastern Java in Indonesia as part of the second Indonesia Petroleum Bidding Round 2024 hosted by the Ministry of Energy and Mineral Resources of Indonesia. In association with this, INPEX through its subsidiary, INPEX SERPANG, LTD. (INPEX SERPANG), signed a Production Sharing Contract (PSC) with Indonesian upstream regulator SKK Migas as well as PETRONAS Energy Serpang Sdn. Bhd. (PE Serpang) and EO Serpang Pte. Ltd. (EOS).

The Serpang Working Area is situated in a location where several oil and gas fields have been discovered, approximately 200 kilometers east of Surabaya, the capital city of East Java Province. This region is expected to generate stable energy demand in the medium to long term. INPEX and its partners anticipate an early transition to development and production activities in the event that exploration activities are successful.

INPEX expects that its upstream exploration activities in the Serpang Working Area will contribute to the expansion of its natural gas and LNG business as outlined in INPEX Vision 2035 announced in February 2025 as well as the company’s business operations in Southeast Asia, which INPEX positions as a core business area. INPEX is also committed to further strengthening its business in Indonesia and will continue to actively engage in this effort.

About the Serpang Working Area Surface area:

   - Water depth: 8,497.73 square kilometres
   - Water depth : Between 0 and 100 meters
   - Shareholders and shareholding ratio: PE Serpang (Operator): 51% - INPEX Serpang: 35% - EOS: 14%

About INPEX

INPEX is Japan’s largest exploration and production (E&P) company, engaged in the development and operation of oil and gas projects worldwide. We are committed to contributing to a brighter future by delivering energy in a sustainable way. As part of this commitment, we are also engaging in lower-carbon solutions such as CCS, hydrogen and integrated power supply, while pursuing new opportunities in the evolving energy landscape.