Indonesia awards Perkasa block, offers Gagah block

Indonesia is working to bolster its oil and gas reserves and has awarded the Perkasa block to TIS Petroleum and will auction the Gagah block in South Sumatra.

Sept. 15, 2025

Indonesia’s Ministry of Energy and Mineral Resources (ESDM) has named TIS Petroleum (Asia) Ltd. as winner of the Perkasa oil and gas block offshore East Java. The block holds estimated reserves of about 228 million bbl of oil or 1.3 tcf of gas, the ministry said in a release Sept. 12.

Indonesia’s determination follows the results of the 2025 Phase I Direct Bid Auction for the oil and gas working area, with a firm commitment of $2.25 million for the first 3 years and a $300,000 signature bonus.

The firm commitment includes two geological and geophysical studies and the acquisition and processing of 3D seismic data covering an area of 200 sq km.

In another effort to boost national oil and gas reserves, the government also announced its offering of the Gagah block in South Sumatra.

The 1,595.48 sq-km area has estimated reserves of 173 million bbl of oil, or 1.1 tcf of gas, with a cost-recovery production sharing contract. The first 3-year firm commitment includes a geological and geophysical study and 3D seismic acquisition over 100 sq km, with a minimum signing bonus of $300,000.