business
Lion Energy gains Indonesia’s approval for East Seram PSC farmout
Key takeaways
- The approval marks the last regulatory step required for the completion of the farmout agreement.
- Once the farmout is completed, Balam Energy will retain a 45% interest in the East Seram PSC, while OPIC's share will rise to 55%.
- Under the terms of the agreement, OPIC will fund 88% of the costs for the upcoming Bula Karang-1 (BK-01) exploration well, up to a maximum of $5.6m.
Lion Energy gains Indonesia’s approval for East Seram PSC farmout The East Seram PSC holds the Bula Karang prospect · Offshore Technology Salong Debbarma Mon, June 29, 2026 at 8:35 PM GMT+7 2 min read LIO.AX Lion Energy has received formal approval from the Indonesian Ministry of Energy and Mineral Resources (MEMR) for the transfer of a 15% participating interest in the East Seram production sharing contract (PSC) from its subsidiary Balam Energy to OPIC East Seram.
The approval marks the last regulatory step required for the completion of the farmout agreement.
Once the farmout is completed, Balam Energy will retain a 45% interest in the East Seram PSC, while OPIC's share will rise to 55%.
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