Criterium Energy Locks in Long-Term Gas Deal with PGN

Criterium Energy has locked in a long-term gas deal with PGN, securing a fixed price for natural gas from its Tungkal PSC through 2040. The agreement includes take-or-pay provisions and flexibility for increased nominations, giving the company price certainty and visibility over future cash flows.

The SE-MGH gas development is nearing completion at 85%, with first gas targeted for September 2026 and expected to more than double company-wide production.

Criterium's partnership with PGN provides a credible offtake counterparty, supporting the company's regional growth ambitions. The deal aligns realized gas prices with the upper range of Indonesia's recent domestic contracts.