EnQuest and Partners Sign Exploration Deal with Indonesia for Gaea Blocks

What's Happening?

EnQuest, in collaboration with its joint venture partners and the Government of Indonesia, has signed Production Sharing Contracts (PSCs) for the Gaea and Gaea II exploration blocks in Papua Barat, Indonesia. EnQuest holds a 40% participating interest and will operate the blocks. The Tangguh Joint Venture, which includes BP Exploration Indonesia Limited and other partners, also holds a 40% interest, while PT Agra Energi Indonesia holds the remaining 20%. The Gaea blocks are estimated to have a multi-Tscf unrisked resource potential, exceeding 100 Tscf, according to the Indonesian Ministry of Energy and Mineral Resources. This agreement marks EnQuest's entry into Indonesia and aligns with its strategy to expand its Southeast Asia portfolio.

Why It's Important?

The signing of these PSCs is significant for EnQuest as it expands its operations into Indonesia, a region with substantial untapped natural resources. The Gaea blocks' proximity to the bp-operated Tangguh LNG facility enhances their strategic value. This development could potentially increase EnQuest's production capacity in Southeast Asia, contributing to its goal of delivering over 35,000 barrels of oil equivalent per day by 2030. The deal also reflects the Indonesian government's trust in EnQuest's capabilities, potentially boosting foreign investment in the country's energy sector.

What's Next?

EnQuest plans to provide further updates on the Gaea project and its broader operations in Southeast Asia and the North Sea during its half-year results announcement on September 24, 2025. The company will likely focus on developing the Gaea blocks to realize their full potential, working closely with its joint venture partners. The success of this project could influence future exploration and production activities in the region, potentially attracting more international energy companies to invest in Indonesia.