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Jakarta Post

Eighteen companies take part in auctions of five oil, gas blocks

  • News Desk

    The Jakarta Post

Jakarta   /   Fri, April 19, 2019   /   03:55 pm
Eighteen companies take part in auctions of five oil, gas blocks Deputy Energy and Mineral Resources Minister Arcandra Tahar (JP/Dhoni Setiawan)

The Energy and Mineral Resources Ministry announced on Thursday that 18 local and international companies had expressed interest in bidding on five oil and gas blocks.

"The gross-split scheme offers more transparency and a quicker process. The investors understand that the government can provide certainty in the blocks’ auction,” Deputy Minister Arcandra Tahar told the press in Jakarta.

The government, which began the auction on Feb. 21, will close the action offer on April 24.

 The five blocks on offer are three exploration blocks -- Anambas block, West Natuna in Riau Islands; West Ganal block in Makassar Strait, South Sulawesi; and West Kaimana block in West Papua; -- and two exploitation blocks -- West Kampar block in Riau; and Selat Panjang block also in Riau. 

West Ganal block is a cut-off field from American energy giant Chevron’s Makassar Strait block, which has been excluded from mega gas project Indonesia Deepwater Development (IDD).

Throughout 2018, the ministry inked agreements for nine exploration blocks through the auction scheme, three of which were inked in December in the third or latest auction last year.

The three blocks were South Andaman offshore block in Aceh, South Saka Kemang onshore block in South Sumatra and Maratua onshore block in Central Java. (bbn)