On May 30, 2023, PT Pertamina Hulu Borneo, in partnership with Eni Peri Mahakam Ltd, officially became the operator of the Peri Mahakam Working Area (WK) after signing a cooperation contract. According to the contract, Eni will be the operator during the exploration phase, while Pertamina will take over as the operator during the development phase. The agreement will last for 30 years under the cost recovery scheme. The initial investment commitment for the first three years of exploration amounts to USD 7.2 million, covering G&G studies, 150 square kilometers of 3D seismic data acquisition and processing, and drilling one exploration well.
Pertamina Hulu Energi (PHE) emphasizes that managing the WK Peri Mahakam will be a focal point of their exploration efforts to support national energy security and strengthen the company's portfolio. PHE's commitment to applying its expertise and best practices in oil and gas operations in East Kalimantan is aimed at accelerating the discovery of strategic gas reserves in the Peri Mahakam WK. The project is expected to contribute significantly to future national production, and PHE believes that its extensive presence in the region will benefit the PHE-Eni consortium in fulfilling exploration commitments and milestones promptly, thus enhancing national production and energy supply.
