Petronas in Talks with Pertamina and TotalEnergies for Bobara Block Partnership

Petronas is in talks with Pertamina and TotalEnergies for a partnership in the Bobara block. TotalEnergies is a leading oil group with operations in refining, distribution, electricity generation, gas production and distribution, and hydrocarbon production. Net sales are distributed geographically across France, Europe, Africa, North America, and other regions.

French energy giant TotalEnergies is reportedly exploring a return to Indonesia’s upstream oil and gas sector through a potential acquisition in the Bobara exploration block, according to the Upstream Oil and Gas Regulatory Task Force (SKK Migas). TotalEnergies, through its subsidiary Total E&P Indonesie, was previously active in Indonesia, most notably operating the Mahakam Block in East Kalimantan before its transfer to PT Pertamina Hulu Mahakam in 2018. Now, the company is said to be in talks to acquire approximately 25 percent of Petronas's stake in the Bobara block, alongside Pertamina Hulu Energi (PHE).

The move reflects growing investor confidence in Indonesia’s energy sector, as noted by Asnidar, Head of Oil and Gas Prospectivity and Data Management at SKK Migas. The Bobara Working Area is located offshore in West Papua, and Petronas secured the production sharing contract (PSC) for the block following Indonesia’s 2023 third-round oil and gas auction. The contract was formally signed during the 2024 Indonesia Petroleum Association Conference and Exhibition.

TotalEnergies, a global integrated energy company, is committed to reducing greenhouse gas emissions and achieving carbon neutrality by 2050. With operations in refining, distribution, electricity generation, gas production and distribution, and hydrocarbon production, TotalEnergies aims to lead the energy transition. The company’s net sales are distributed geographically across France, Europe, Africa, North America, and other regions.

The potential involvement of TotalEnergies in the Bobara block could mark a significant development in the region’s energy landscape, bringing advanced expertise and reinforcing Indonesia’s position as an attractive destination for international energy investment. The Indonesian government expects contractors to uphold both production continuity and their exploration commitments.

References:
[1] https://indonesiabusinesspost.com/4331/energy-and-resources/totalenergies-eyes-return-to-indonesia-with-potential-stake-in-bobara-oil-gas-block
[2] https://www.tradingview.com/news/reuters.com,2025-05-16:newsml_PDT79BC31:0-hanwha-totalenergies-resumes-production-at-no-2-sm-unit/