Jakarta. The Energy and Mineral Resources Ministry (ESDM) has named Singapore -based TIS Petroleum Asia as the winner of the bidding for the Perkasa oil and gas operation area. The decision followed the first round of the 2025 direct oil and gas operation area tender, with a three-year firm commitment worth a total of $2.55 million.

Director General of Oil and Gas Laode Sulaeman said the commitment covers two geological and geophysical (G&G) studies, along with 200 square kilometers of 3D seismic acquisition and processing. The Perkasa operation area, located offshore East Java, is estimated to hold reserves of 228 million barrels of oil (MMBO) or 1.3 trillion cubic feet (TCF) of gas. 

Furthermore, the government announced the availability of the Gagah operation area in South Sumatra. The area spans 1,595.48 square kilometers, with estimated reserves of 173 MMBO or 1.1 TCF, under a cost recovery production sharing scheme. The firm commitment for the first three years includes G&G studies and 100 square kilometers of 3D seismic acquisition, with a minimum signature bonus of $300,000.

Companies or permanent establishments interested in the Gagah operation area may submit direct offers without joint studies within 30 calendar days, with a submission period extending up to six months. Investors may also propose alternative terms and conditions. Full details are available on the ministry’s official website.