INPEX acquires 50% participating interests in Agung I and Agung II offshore blocks from BP subsidiaries
Type: Acquisition · Technology: Oil Gas · Country: Indonesia · Announced: 2026-10-01
INPEX acquired 50% participating interests in the Agung I and Agung II offshore exploration blocks from BP Agung I Limited and BP Agung II Limited, with the transaction announced on 1 October 2026. Agung I covers 6,656 square kilometers and Agung II covers 7,969 square kilometers, both in water depths ranging from 100 to 2,000 meters offshore Eastern Java, Indonesia. Following the deal, INPEX and BP will each hold 50% of both blocks while the BP subsidiaries will remain operators of the licences. The blocks are adjacent to the Barong and Serpang blocks where INPEX already holds interests, enabling INPEX to pursue exploration across a wider area offshore Eastern Java. The article notes multiple oil and gas discoveries in the region and states that successful exploration could lead to efficient development and production across provinces with stable medium- to long-term energy demand.
Counterparties
- BP Agung II Limited (Seller)
- Inpex (Parent Company)
- INPEX WEST AGUNG (Buyer)
- BP (Parent Company)
- BP Agung I Limited (Seller)
- INPEX EAST AGUNG (Buyer)
📈 The Sherpa Signal — one notable infrastructure deal a day.
📘 Sherpa Guides — practitioner guides to developing, financing and acquiring infrastructure.