Under the contract, Petrosea will also be responsible for all operations and maintenance of the mine and river port fixed facilities.
The Pakar mine is an opencut coal mine producing thermal coal at an initial rate of 5 million tonnes per annum for both export and domestic consumption.
The mine has proven and probable coal reserves of 274Mt and overall coal resources of about 3.3 billion tonnes.
Petrosea will work with IBU under an alliance contract format.
So far Petrosea has secured $US390 million worth of contracts for the Pakar Coal Mine.
The latest contract wins follow on from the awarding of a long-term alliance contract worth $US145 million for mining operations at the Pakar mine last week and the awarding of the initial mine development contract in July.
The initial contract is for five years, with mining expected to begin in March next year.