The Ministry of Energy and Mineral Resources Announces the Winner of the WK Gagah Auction

JAKARTA - The Ministry of Energy and Mineral Resources (ESDM) through the Directorate General of Oil and Gas (Migas) announced the winners of the auction for WK Gagah which is located in the mainland of South Sumatra.

Director General of Oil and Gas of the Ministry of Energy and Mineral Resources Laode Sulaeman said that the results of the evaluation of the Direct Bidding Phase II of 2025 appointed PT Proteknik Utama as the winner.

"This work area is estimated to have resources of around 173 million barrels of oil (MMBO) or 1.1 trillion cubic feet of gas (TCF)," said Laode, Monday, December 22.

As the winner, continued Laode, PT Proteknik Utama is required to fulfill financial commitments, namely the Signature Bonus of US$ 300,000 and the Commitment to the first three years of the exploration period of US$ 4,250,000.

"This commitment certainly includes geological and geophysical (G&G) studies and 2D/3D seismic surveys to ensure that the potential reserves can be immediately followed up," he continued.

Closing the announcement, Laode Sulaeman conveyed the hope that the winners would immediately realize the work program and implement the commitments that have been set.

"The government hopes that the winner can contribute to Indonesia's energy security in the future. We also urge the winner to be able to carry out the definite commitment that has been well determined, and immediately complete the Cooperation Contract," concluded Laode.