The Hawaii-based Pacific Tsunami Warning Centre said in a bulletin cited by Reuters that a Pacific-wide tsunami was not expected after the quake, which was initially recorded with a 7.2-magnitude.
According to the USGS, the epicentre was registered at a depth of 220 km (136 miles). There have been no immediate reports of damage or injury.
The US-based quake watchdog later raised the magnitude to 7.5 before downgrading it to 7.3.
Hours earlier, geologists registered a 6.1-magnitude quake west of Papua province's Abepura town, at a depth of 20 kilometres (12 miles).
The head of Indonesia's earthquake and tsunami centre, Rahmat Triyono, said the Papua quake was followed by several smaller aftershocks, but there is no immediate reports of major damage or injuries, cited by AP.
In September 2018, a devastating 7.5-magnitude earthquake struck the Indonesian island of Sulawesi, followed by tsunami waves more than 20 feet high that smashed the island. Nearly 70,000 homes were destroyed or damaged, 80,000 people displaced and about 2,000 people killed, according to the Indonesian government.
Indonesia is located in a seismically active zone girdling the northern Pacific Ocean known as the Ring of Fire and regularly suffers from powerful earthquakes.
