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Indonesia offers 15 oil blocks amid thin industry interest

21 May 2017

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Indonesia is offering 15 conventional and unconventional oil and gas blocks to potential bidders, government officials said on Friday, hoping more flexible terms will help reverse flagging interest in the sector after lacklustre performance in 2016.

This year the government is applying new production sharing rules and will revise rules on recoverable costs and cut import duties on exploration equipment where possible, said deputy energy minister Arcandra Tahar, among efforts to incentivise new investment.

The latest offer includes 10 conventional blocks and 5 non-conventional oil and gas blocks and all will be offered under a gross split production sharing contract scheme, Wiratmaja Puja, director general of oil and gas told reporters.

Details of the offer are below:

Conventional oil and gas blocks

Regular bids: 1. Tongkol (East Natuna Basin) 2. East Tanimbar (Maluku) 3. Memberamo (Papua)

Direct offers: 1. Andaman I 2. Andaman II 3.South Tuna (Riau island) 4. Merak (Banten&Lampung) 5. Pekawai (East Kalimantan) 6. West Yamdena (Maluku) 7. Kasuri III (West Papua)

Non-conventional oil and gas blocks

Shale gas: 1. Jambi I 2. Jambi II

Coal bed methane: 1. Raja (South Sumatra) 2. Bungamas (South Sumatra) 3. West Air Komering (South Sumatra)

Click here for Indonesia's Energy and Mineral Resources Ministry announcement

Click here for full Reuters article

Source: Reuters

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