Malaysia's Petronas is preparing to commence its first operated deepwater exploration drilling in Indonesia on the Bobara block offshore Southwest Papua province later this year. The block, covering 8444.49 square kilometres, holds potential resources of 6.8 billion barrels of oil equivalent. Petronas operates the block with a 51% interest under a 30-year production sharing contract (PSC) signed in May 2024, with partners TotalEnergies and Pertamina Hulu Energi each holding 24.5%.

Exploration Drilling Campaign

Despite a minimum work commitment for the initial three-year exploration phase focusing on geological studies and 3D seismic acquisition, the partners have opted to proceed with drilling within the first 36 months. The campaign will begin with the Redha-1 wildcat well, which is anticipated to be spudded in October 2026.

Vessel Tender and Contract Details

To support the drilling, Petronas has launched a tender for several platform supply vessels, with work expected to start in the third quarter of 2024 from a nominated shore base. The contract is divided into three packages:

• Package A: A 120-day charter with a minimum contract value of $5.5 million.
• Packages B & C: Both are 90-day charters, each with a minimum value of $4.2 million.

Vessels must have dynamic positioning, cargo capacity on and below deck, and be operable 24/7. Bidders must have comprehensive operational procedures and provide all necessary safety equipment on board.

Local Content and Tender Process

The contracts mandate a minimum local content (TKDN) of 85%. The tender process prioritizes Indonesia-flagged vessels initially. If sufficient Indonesia-flagged vessels are not proposed or price agreements cannot be reached, the tender will be declared failed. A retender would then invite bids for a combination of Indonesia-flagged and foreign-flagged vessels. If no Indonesia-flagged vessel passes prequalification, the process will proceed with foreign-flagged vessels only. The deadline for prequalification document submission is 16 February.