Indonesia offers six oil and gas blocks in second 2024 auction
JAKARTA, Dec 3 (Reuters) - Indonesia's Energy and Mineral Resources Ministry on Tuesday launched auctions for six oil and gas blocks, taking the total number of blocks offered this year to 11, it said in a statement.
Indonesia is keen to boost oil and gas exploration to find new hydrocarbon reserves amid declining oil production from older blocks.
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The country's President Prabowo Subianto has pledged to reach energy self-sufficiency through oil and gas reforms, as well as renewable energy development.
The blocks offered on Tuesday are Air Komering, Serpang, Kojo, Binaiya, Gaea and Gaea II blocks.
The six areas have a combined potential of 48 billion barrels of oil equivalent, Dadan Kusdiana, a senior energy ministry official said in the statement.
(Reporting by Fransiska Nangoy and Bernadette Christina Munthe; Editing by Abinaya Vijayaraghavan)