Pertamina subsidiary and Medco Energi buy stakes in Eni’s East Kalimantan fields

PT Pertamina Hulu Energy (PHE) and PT Medco Energi International have concluded agreements with Italy’s Eni to buy portions of its participation rights in East Kalimantan. Under the deals, PHE will obtain a 10% interest from Eni in the North Ganal and Rapak working areas and will increase its stake in the East Sepinggan block from 15% to 25%. Sunaryanto, PHE’s president director, said the move supports the company’s goal of strengthening its upstream oil and gas portfolio with assets that offer solid resource potential and value creation for the nation.

The acquired blocks are situated in a strategic Indonesian oil-gas region, backed by integrated upstream-downstream facilities. Their inclusion in the Kutei North Hub Project, classified as a National Strategic Project, is expected to boost production and enable collaboration with Pertamina’s subsidiary PT Badak NGL. The transactions underscore Indonesia’s push to consolidate domestic control over key energy assets.