French energy giant TotalEnergies is reportedly exploring a return to Indonesia’s upstream oil and gas sector through a potential acquisition in the Bobara exploration block, according to the Upstream Oil and Gas Regulatory Task Force (SKK Migas).

“Yes, there are ongoing discussions,” Asnidar, Head of Oil and Gas Prospectivity and Data Management at SKK Migas, said in a statement quoted by Antara on Tuesday, May 20, 2025.

TotalEnergies, through its subsidiary Total E&P Indonesie, was previously active in Indonesia, most notably operating the Mahakam Block in East Kalimantan before its transfer to PT Pertamina Hulu Mahakam in 2018.

Now, the company is said to be in talks to acquire approximately 25 percent of Petronas's stake in the Bobara block, alongside Pertamina Hulu Energi (PHE).

The move, Asnidar noted, reflects growing investor confidence in Indonesia’s energy sector. “We continue to promote this improved investment climate together with the government,” she said.

The Bobara Working Area is located offshore in West Papua. Petronas secured the production sharing contract (PSC) for the block following Indonesia’s 2023 third-round oil and gas auction, operating through its subsidiary Petronas E&P Bobara Sdn Bhd. The contract was formally signed during the 2024 Indonesia Petroleum Association Conference and Exhibition.

With this acquisition, the Indonesian government expects contractors to uphold both production continuity and their exploration commitments. The potential involvement of TotalEnergies could mark a significant development in the region’s energy landscape, bringing advanced expertise and reinforcing Indonesia’s position as an attractive destination for international energy investment.