Indonesia Offers 23 New Blocks for Grabs

The Indonesian government will offer 23 new oil and gas blocks to investors later this month as part of efforts to boost the country's declining output, a senior government official said Wednesday.

Evita Legowo, director-general of oil and gas at the Ministry of Energy and Mineral Resources, said the government would offer seven blocks through a regular bidding process and 16 blocks directly.


Copyright (c) 2012 Dow Jones & Company, Inc.


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Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
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