Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post
The Jakarta Post
Video Weather icon 30°C
DKI Jakarta, Indonesia
weather-icon
30°C Partly Cloudy

Dry and mostly cloudy throughout the day.

  • weather-icon

    Wed

    26℃ - 32℃

  • weather-icon

    Thu

    25℃ - 32℃

  • weather-icon

    Fri

    25℃ - 31℃

  • weather-icon

    Sat

    26℃ - 30℃

Four Indonesian oil and gas blocks up for auction

  • Stefanno Reinard Sulaiman
    Stefanno Reinard Sulaiman

    The Jakarta Post

Jakarta | Tue, November 6, 2018 | 02:45 pm
Four Indonesian oil and gas blocks up for auction Deputy Energy and Mineral Resources Minister Arcandra Tahar (JP/Dhoni Setiawan)

The government put four exploration blocks up for auction on Monday, marking its third effort this year, in a bid to push up oil and gas production in the country.

The four blocks are the South Andaman offshore block in Aceh, the South Saka Kemang onshore block in South Sumatra, the Anambas offshore block in Riau Islands and Maratua, an onshore and offshore block in North and East Kalimantan.

The four blocks are set to contribute at least US$8 million in signature bonuses, or $2 million each.

"The blocks have [been subject to] joint study [by several oil and gas companies] before, hence it will be an auction under a direct offer scheme," said Deputy Energy and Mineral Resources Minister Arcandra Tahar.

The direct offer scheme is for blocks that have been in joint study between the government and oil and gas companies.

For the third auction, participants are given time to access the bidding document from Nov. 5 to Dec. 17, while the deadline for the document submission is Dec. 19.

State-owned oil and gas holding company Pertamina was involved the joint study of the Maratua block, with reserves of 204.86 million barrels of oil (mmbo) and 890.09 billion cubic feet (bcf) of gas.

The South Andaman block is projected to hold 218.92 mmbo of oil and 1,234 bcf of gas; the South Saka Kemang block is seed to hold 106.33 mmbo of oil and 603.91 bcf of gas, and reserves at the Anambas block are estimated at 260.36 bcf of gas and 26.04 billion standard cubic feet of condensate. (bbn)  

Join the discussions