PETRONAS, through its wholly-owned subsidiary PETRONAS E&P Bobara Sdn Bhd, has signed a Farm-Out Agreement (FOA) with PT Pertamina Hulu Energi Bobara (PERTAMINA) for participation in the Bobara Production Sharing Contract (PSC).

This bilateral partnership brings together two leading national and international energy players, combining complementary technical strengths, deepwater expertise, and a shared commitment to responsibly unlock new energy resources in support of Indonesia’s sustainable growth.

Under the agreement, PERTAMINA will hold a 24.5% Participating Interest, with PETRONAS as the Operator. The partnership will also include TotalEnergies with a 24.5% Participating Interest, marking a strong collaboration among the three energy companies moving forward.

The Bobara PSC was originally signed between PETRONAS and SKK Migas during the Indonesian Petroleum Association (IPA) Convention in May 2024. Located offshore Papua Barat in Eastern Indonesia, the block represents a key frontier in ultra-deepwater growth opportunity.

The signing ceremony was held in conjunction with the 47th ASEAN Summit 2025 in the presence of PETRONAS President and Group Chief Executive Officer Tan Sri Tengku Muhammad Taufik and PERTAMINA President Director and CEO Simon Aloysius Mantiri.

The collaboration underscores PETRONAS’ commitment to expanding its upstream portfolio through trusted partnerships built on shared ambitions and mutual strengths. By forging strategic alliances with reliable partners, PETRONAS strengthens its global footing and accelerates sustainable value creation for its shareholders.

PETRONAS currently operates the Ketapang, North Madura II, North Ketapang, Serpang and Bobara PSCs and is a joint venture partner in five PSCs located onshore and offshore Sumatra, Natuna Sea, East Java, and East Indonesia.

About Petronas

Petroliam Nasional Berhad (PETRONAS) is a global energy company committed to producing and delivering energy and solutions needed to advance society responsibly and sustainably.

As Malaysia’s national oil and gas company, we safeguard and manage the nation’s hydrocarbon resources. Our aim is to maximise value through our integrated business model to meet the energy needs of the nation and our customers across the globe. Our portfolio includes oil and gas, petrochemicals, petroleum products, as well as a range of cleaner energy solutions.

About Pertamina (Persero)

Pertamina has strong commitment to providing energy and developing new and renewable energy in order to sustain the national energy security and self-sufficiency. As a holding company in energy sector officially announced by the Indonesian Ministry of SOEs on June 12th, 2020, Pertamina now plays a strategic role in leading its six Sub-holdings which includes Upstream Subholding whose operation is placed under PT Pertamina Hulu Energi, Gas Subholding which is operated under PT Pertamina Gas Negara, Refinery & Petrochemical Subholding which is operated under PT Kilang Pertamina Internasional, Power & NRE Subholding managed under PT Pertamina Power Indonesia, Commercial & Trading Subholding operated under PT Patra Niaga, as well as Integrated Marine Logistics Subholding operated under PT Pertamina International Shipping.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.