INPEX announced May 22 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.
Petronas heads a consortium awarded rights to explore the Serpang Working Area offshore Eastern Java.
Petronas (PE Serpang) has a 51% operating interest, in partnership with INPEX SERPANG (35%) and EOS (14%).
The trio signed the PSC with Indonesian upstream regulator SKK Migas.
According to INPEX, the Serpang Working Area, 200 km east of Surabaya in 0-100 m of water, is in a region where various oil and gas fields have been discovered.
Assuming exploration activities are successful, the partners expect to move swiftly into the development and production phases, INPEX added.
