Indonesia M&A - Prime Group to acquire Harbour Energy's Natuna Sea assets

(Originally posted on December 8, 2025)

Earlier today, Harbour Energy announced a deal to sell their interest in their two Natuna Sea assets: Natuna Sea Block "A" PSC (28.67% + operator) and Tuna PSC (50% + operator), to Prime Group. The deal sees Prime Group pay Harbour Energy a cash consideration of US $215 million, with completion targeted for Q2 2026. The Natuna Sea Block "A" deal is effective 1st January 2025 and the Tuna deal will be effective on completion. Once complete, the rights holdings of the two PSCs will be:

• Natuna Sea Block "A" PSC: Prime Group (28.67% + operator), KUFPEC (33.33%), Natuna 2 BV (23%) and Petronas Carigali (15%). Natuna 2 BV is a 50:50 JV between Pertamina and PTTEP.
• Natuna Sea Block "A" PSC: Prime Group (50% + operator) and Zarubezhneft (50%).