Indonesia May Open 13 Conventional, 8 Shale Gas Blocks for Bidding in 2014

Indonesia is likely to offer 21 conventional and shale oil and gas blocks in its first bidding round for 2014.

The South East Asian nation will offer 13 conventional oil and gas blocks and eight shale blocks, news agency Reuters quoted Oil and Gas Director General Eddy Hermantoro as saying.

"We estimate these oil and gas blocks will provide an additional 3.5 billion barrels of oil and 107.7 trillion cubic feet (tcf) of gas resources," Hermantoro said.

Of the 13 conventional blocks, eight are being offered as direct offers and five are regular tenders, Reuters reported.

Five unconventional blocks out of eight will be tendered as direct offers and three as regular tenders, Hermantoro said.

He said that the government expected firms to commit to drilling at least one exploration well for each unconventional block it awards, added Reuters.