Acquisition of interest in South Sakakemang Block onshore Indonesia

February 19, 2019 Project

Mitsui Oil Exploration Co., Ltd. ("MOECO", Head Office: Tokyo, President & CEO: Hiroyuki Tsurugi) is pleased to announce that it has been successful in a joint bid for the South Sakakemang Block located onshore Indonesia. MOECO South Sakakemang B.V. and Repsol Exploración South Sakakemang S.L. have signed a Production Sharing Contract (PSC) on the 18th February 2019 with Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi ("SKK MIGAS"). MOECO South Sakakemang B.V. will assume a 20% participating interest in the block, with the interests of all parties being as follows:

MOECO South Sakakemang B.V.


Repsol Exploración South Sakakemang S.L. (Operator)


MOECO has been engaging in exploration, development and production of energy resources for many years in Thailand, Indonesia and other targeted parts of South East Asia. Following the acquisition of the Southeast Jambi and the Sakakemang Blocks located onshore Sumatra in Indonesia last year, MOECO is aiming to expand its business in the area and the successful award of an interest in the South Sakakamang Block represents a positive step in realizing this goal. This successful bid reflects MOECO's aim to establish a more solid business foundation for further growth through continuous exploration and acquisition activities globally.