Signing of Participating Interest Transfer Agreement
Northwest Natuna Working Area

Jakarta, April 2025 - Prima Energy Northwest Natuna Pte. Ltd. (PENN), the Production Sharing Contract (PSC) Contractor, together with Prima Energy AAL Singapore Pte. Ltd., the current holder of the Participating Interest (PI) in the Northwest Natuna Working Area (WK NWN), and PT Pembangunan Kepulauan Riau Northwest Natuna (PT PK NWN), a subsidiary of the Regional-Owned Enterprise (BUMD) of the Kepulauan Riau Province and the designated recipient of the PI, officially signed the Participating Interest Transfer Agreement on Thursday, April 24, 2025, at the Gedung Daerah Kepulauan Riau in Tanjung Pinang.

The signing ceremony was attended by Prima Energy CEO, Pieters Utomo, and President Director of PT PK NWN, Syahril Efendi. The event was witnessed by the Governor of Kepulauan Riau Province, Ansar Ahmad; Secretary of SKK Migas, Luky A. Yusgiantoro; the Regents of Anambas and Natuna; the Head of SKK Migas Representative for Northern Sumatra (Sumbagut); and the President Director of PT Pembangunan Kepri.

This Participating Interest transfer is part of the implementation of provisions stipulated in the Production Sharing Contract (PSC) and the Ministry of Energy and Mineral Resources (ESDM) Regulation No. 37 of 2016, as amended by ESDM Regulation No. 1 of 2025, which mandates the offering of Participating Interest to Regional-Owned Enterprises (BUMD) to promote regional empowerment and enhance participation in upstream oil and gas activities.

"This Participating Interest transfer reflects our commitment to consistently adhere to regulations, while also fostering the active participation of regional governments as strategic partners in building the national upstream oil and gas industry," said Pieters Utomo. "We are also progressing with the development of the Ande-Ande Lumut (AAL) Field to advance into the production phase and contribute to the achievement of national targets."

The AAL Field, located approximately 260 kilometers from Matak Island, Kepulauan Riau, is an offshore oil and gas field situated within the Northwest Natuna Working Area. The process of transferring the Participating Interest has been a long journey, involving, among others, changes in operatorship and revisions to the Plan of Development (PoD).

"This signing marks a strategic step in promoting regional participation in the upstream oil and gas industry and represents a significant milestone in the offshore development project in the Kepulauan Riau. We hope that this transfer of Participating Interest to the region will not only strengthen the role of BUMD in the upstream sector but also bring tangible benefits to the local communities," stated Luky A. Yusgiantoro, Secretary of SKK Migas.

Governor of the Kepulauan Riau Province, Ansar Ahmad, also expressed his appreciation to all parties who have worked diligently to realize this Participating Interest transfer.

"This step demonstrates the strong synergy between the central government, regional authorities, and oil and gas industry players in promoting sustainable regional development. We are ready to carry out this mandate professionally to ensure that the benefits are directly felt by the people of the Kepulauan Riau, particularly in Natuna and Anambas," he said.