Operations
Strategic oil and gas assets across Indonesia
Indonesia Operations Overview
Production Sharing Contracts
Tungkal PSC
South SumatraCriterium holds a 100% operated working in the Tungkal PSC, which is a Gross Split PSC that expires in 2042. The block currently delivers stable oil production averaging 845 bbl/d in 2025 from the Mengoepeh (MGH) and Pematang Lantih (PLT) fields, both known for light crude quality and premium Brent-linked pricing.
With 2P reserves of 7.6 MMboe and a material gas growth runway, Tungkal provides both cash-flow resilience and upside. Current 2C resources stand at 15.9 MMboe. In 2026, Criterium is focused on developing the SE-MGH and N-MGH gas fields and advancing oil production growth through workovers, infill opportunities, and implementing secondary recovery techniques such as waterflood.
- Producing oil fields: MGH and PLT with 2025 average output of 845 bbl/d
- Discovered gas fields: SE-MGH (tested 8 mmcf/d), N-MGH (tested 2.5 mmcf/d), Macan Gedang (tested 5 mmcf/d), and Cerah
- 100% operated Gross Split PSC with contract term to 2042
- YE2025 resource base: 2P 3 MMbbl, 2C 13 bcf + 13 MMbbl, 2U 51 bcf + 21 MMbbl
* See disclaimer notes below
Bulu PSC
East JavaThe Bulu PSC is located offshore in the shallow waters of the East Java Sea. Criterium Energy holds a 42.5% non-operated working interest in this block and is currently seeking to align joint ventures partners on a revised development plan
The block benefits from proximity to existing infrastructure and markets, making it an attractive development opportunity. Our technical team works closely with the operator to ensure optimal field development and production.
- Offshore asset in established hydrocarbon province
- 42.5% working interest with experienced operator
- Excellent infrastructure and market access
- Infrastructure led development plan leads to material upside
West Salawati PSC
West PapuaThe West Salawati Production Sharing Contract is situated in the Bird's Head region of West Papua, an area known for its significant oil and gas potential. As 100% operator, Criterium Energy is actively pursuing development activities to unlock the block's full potential.
The block features a combination of producing fields and exploration prospects, providing opportunities for both near-term production growth and longer-term value creation through new discoveries.
- Strategic location in prolific Bird's Head region
- Mix of producing assets and exploration targets
- Full operational control as 100% operator
- Significant upside potential identified
Disclaimer
Production data stated is from field estimates and represents the average daily production from the MGH and PLT fields in 2025. All Reserve and Resource data is as per the Sproule ERCE Reserve Report dated March 24, 2026. More information can be found in the press release dated March 24, 2026. Information on the test data for SE-MGH, N-MGH, and Macan Gedang can also be found in the notes of the press release dated March 24, 2026.
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