Indonesia M&A - SK Earthon announce acquisition of a 34% stake in the North Ketapang block from PETRONAS

(Originally posted on November 24, 2025)

Yesterday, SK Earthon announced have acquired a 34% non-operated interest in the North Ketapang PSC from PETRONAS. No monetary value has been published for the deal and the wording of the press release implies that the deal is complete. In addition, this deal mentioned that Pertamina have also taken a 15% stake in the PSC, although the timing of this is less clear. Assuming that both of these deals are complete, the current rights holdings of the North Ketapang PSC are PETRONAS (51% + operator), SK Earthon (34%), and Pertamina (15%).