Subsidiary of CNOOC Signs Production Sharing Contracts for Two Exploration Blocks in Indonesia

On August 26, CNOOC Limited announced that its wholly owned subsidiary had signed production sharing contracts for the Gaea and Gaea II exploration blocks in Indonesia with SKK Migas, the regulatory agency under Indonesia’s Ministry of Energy and Mineral Resources, other partner companies in the Tangguh project, EnQuest and Agra.

Both blocks are located in the southern part of West Papua Province, Indonesia, adjacent to the Tangguh project. They are mainly onshore and in shallow water, with a total area of about 12,000 square kilometers, and a first exploration phase of three years. As early as April 2025, the Indonesian government announced the winning bids for the two blocks. Among them, the Tangguh project partners collectively hold a 40% non-operating interest (CNOOC Limited’s wholly owned subsidiary holds 5.56%), EnQuest serves as the operator and holds a 40% interest, and Agra holds a 20% non-operating interest.