Indonesia Awards 14 Oil, Gas Blocks to Investors

Indonesia’s Energy and Mineral Resources Ministry on Thursday awarded 14 new oil and gas blocks to investors for development with an aim to boost country’s production.

As per media reports, Edi Hermantoro, director general of oil and gas at the Ministry of Energy and Mineral Resources, said the investors have pledged to spend $84.3 million over three years for exploration works and other activities.

Jakarta Post reported that among the winners were British-based Salamander Energy and its subsidiary, which were awarded the rights to explore West Bangkanai and North East Bangkanai blocks in East Kalimantan, and Premier Oil through its subsidiary Premier Oil West Tuna, which secured the right to survey West Tuna block in Natuna.

Dubai-based Mubadala Petroleum, and Japan-based Inpex Corporation won exploration rights in the West Sebuku block in the Makassar Strait, Jakarta Post added.

The ministry offered 16 blocks through a direct offer during the second phase of the oil and gas tender launched in October, last year but only 14 of them received qualified bidders.