[Indonesia] Kojo Exploration Block

[escveritas]

BUMI ARMADA BERHAD - SIGNED PRODUCTION SHARING CONTRACT FOR KOJO EXPLORATION BLOCK IN MAKASSAR STRAIT, INDONESIA

21 May 2025

Bumi Armada Berhad ("Bumi Armada"), wishes to announce that its wholly owned subsidiary Armada Kojo B.V. ("AKBV") has signed a Production Sharing Contract with the Ministry of Energy and Mineral Resources of Indonesia for the Kojo PSC in the Makassar Strait, between South Kalimantan and South Sulawesi, Indonesia ("PSC"). AKBV is the operator for Kojo PSC with a 100% participating interest.

The Kojo PSC covers an area of 8,473 square kilometers with water depths ranging from 50m to 1,000m. The MIGAS' estimated resources are 90.2 MMBO and 2.1 TCF of gas. Plans are to acquire new 20 seismic and to integrate with existing sub-surface data to evaluate the potential for development.

Kojo PSC will be the second-operated PSC by Bumi Armada in Indonesia, after Akia PSC. Entering this PSC is aligned with Bumi Armada's strategy to develop oil and gas discoveries by utilising an FPSO with either a FLNG or pipeline. This leverages Bumi Armada's core expertise in providing and operating floating production systems.