CITIC Resources unit sues Indonesian regulator over oil block operator appointment

CITIC Resources Holdings Limited announced that its indirect wholly-owned subsidiary, Seram Energy, has initiated legal proceedings against SKK Migas, the Indonesian special government agency for upstream oil and gas activities. The dispute arises from SKK Migas's August 11, 2025, decision to appoint PT Petro Indo Mandiri (PIM) as a "temporary operator" for the Seram Block, replacing Seram Energy. Seram Energy, which holds a 41% participating interest and has operated the block since July 2006, argues this appointment violates Indonesian laws and the existing Joint Operating Agreement (JOA).

Seram Energy filed a written administrative objection on August 19, 2025, which SKK Migas failed to respond to within the statutory 10 working days. Consequently, Seram Energy filed a claim with the State Administrative Court in Indonesia to suspend the August 11 Letter's implementation. The court has accepted the claim, with a pre-trial hearing scheduled for October 2, 2025.

PIM, appointed as the temporary operator, is a non-operator PSC Participant with a 10% participating interest in the Seram Block. GSI, another PSC participant with 30% interest, owns 70% in PIM, making PIM a group member of PT Goldenheaven Prima Investama. CITIC Resources Holdings stated it will vigorously defend its rights and interests.