KUFPEC Achieves a Milestone in Indonesian Oil and Gas Bid Round

Kuwait Foreign Petroleum Exploration Company, k.s.c.c. (“KUFPEC”) is pleased to announce that its wholly-owned subsidiary KUFPEC Indonesia (Anambas) B.V. (“KUFPEC Indonesia”) has achieved a milestone through securing two key blocks in Indonesia’s 2024 Direct Offer Tender Bid Round I.
 
KUFPEC, in partnership with PT Pertamina Hulu Energi and Sinopec, acquired the largest block in the tender, the Melati Block. Situated in the frontier region of Sulawesi, the Melati Block holds substantial estimated oil and gas reserves. This strategic success positions KUFPEC as a leader in hydrocarbon exploration in highly promising basins, with future exploration efforts expected to draw major industry attention.
 
In cooperation with PT Medco Energi Linggau and PT Sele Raya, KUFPEC has also acquired the Amanah Block in South Sumatra. This asset complements KUFPEC’s existing portfolio in the region, reinforcing the company’s presence in Indonesia’s energy sector.
 
KUFPEC Chief Executive Officer Mohammad Salem Al-Haimer stated that “these acquisitions underscore KUFPEC’s commitment to expanding its exploration and production portfolio in Indonesia, in line with its strategic growth plans for Southeast Asia”.