Indonesia revokes Bula block permit and seeks new investor
Energy Minister Bahlil Lahadalia said the stalled Maluku project needs a new partner after its operating permit was withdrawn.
Indonesia is seeking a replacement investor for the Bula oil and gas block in Maluku after Energy and Mineral Resources Minister Bahlil Lahadalia revoked its operating permit over stalled development. He said the move was also intended to provide legal certainty for an incoming investor.
In remarks at the inauguration of Golkar’s Maluku provincial leadership, quoted on 9 November 2026, Bahlil said the permit had been cancelled following an assessment of the project’s problems. He nevertheless said an investor was still trying to operate in the area despite the revocation.
Kalrez Petroleum (Seram) Ltd previously operated the block. Hana Mandiri subsequently acquired it, with regional government-owned PT Maluku Energi Abadi involved in the transfer of a 10 per cent participating interest. Kalrez’s operations at the block have reportedly stopped and entered the termination stage.
The energy ministry said some oil output from the site had been used to pay workers. Bahlil said the government would not accept arrangements that breached operating rules and wanted a new investor able to put forward a swift, measurable cooperation plan.
