INPEX Buys Stakes in Indonesian Offshore Blocks

INPEX Corporation has expanded its upstream footprint in Indonesia by acquiring 50% participating interests in the Agung I and Agung II offshore exploration blocks in Eastern Java. The company now holds a majority stake in these areas, which are located near existing oil and natural gas fields and feature water depths ranging from 100 to 2,000 meters.

The acquisition gives INPEX access to two large offshore exploration areas covering approximately 14,625 square kilometers. Agung I spans around 6,656 square kilometers, while Agung II covers about 7,969 square kilometers. By combining its interests across these neighboring areas, INPEX expects to pursue more integrated area-wide exploration in Eastern Java.

The move aligns with INPEX Vision 2035, which aims to expand the company's natural gas and LNG business. Increasing its Indonesian portfolio could strengthen INPEX's position in a market with growing regional energy significance and provide additional resources for Southeast Asian gas supply.