Companies to invest $180 m in oil and gas blocks
Alfian, The Jakarta Post, Jakarta | Wed, 04/29/2009 6:12 PM
The government has received several investment commitments worth a total of US$190 million to develop 11 oil and gas blocks.
The funds would be fully disbursed for exploration activities in three years, director for oil and gas Evita H. Legowo told reporters on Wednesday.
On Wednesday afternoon in Jakarta, Evita announced 11 winners for 11 oil and gas blocks offered December last years. Included among the winners are Hess and ExxonMobil's subsidiary Esso Exploration International LTD.
"All the winners must submit their confirmation to us between April 30 and May 1," Evita said.
The contracts of these blocks are scheduled to be signed on May 5th, during the 33rd conference and exhibition of the Indonesian Petroleum Association (IPA).
