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

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

Both blocks are located in the southern part of Indonesia’s West Papua Province, adjacent to the Tangguh Project. They are mainly onshore and in shallow-water areas, with a total area of approximately 12,000 square kilometers. The first phase of the exploration period is three years. As early as April 2025, the Indonesian government announced the bid results for the two blocks: Tangguh Project partners jointly hold a 40% non-operator interest (of which CNOOC’s wholly owned subsidiary holds 5.56%), EnQuest serves as the operator and holds a 40% interest, and Agra holds a 20% non-operator interest.