Indonesia Offers 23 New Blocks for Grabs

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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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