Shell, Statoil, Petronas Carigali and Pertamina are among the successful firms in the latest bidding round for 11 oil and gas blocks in Indonesia.
Royal Dutch Shell plc, Norway's Statoil ASA, Malaysia's Petronas Carigali and Indonesia's state-owned oil company PT Pertamina were successful in the latest bidding round for 11 conventional and unconventional oil and gas exploration blocks in Indonesia, the Ministry of Energy and Mineral Resources said in a press release Wednesday.
The onshore and offshore concessions were offered by the government as part of the country's move to boost exploration and production activities in Indonesia and reverse the trend of declining oil and natural gas production in recent years.
According to the government, the successful bidders for oil and gas exploration blocks available under the Direct Offer round are:
The firms have three years to complete exploration in the blocks, covering geological and geophysical (G&G) work, 2D seismic survey and the drilling of two exploration wells. Total exploration commitment for these blocks amounts to $36.325 million and the government will collect $6 million in signature bonus.
Indonesia also awarded two exploration blocks through a regular tender. Petronas Carigali International E&P BV won the first block at North Madura II located in offshore East Java, while the second -- Aru Trough I in offshore Aru in eastern Indonesia -- was awarded to Statoil ASA.
Exploration commitments -- covering G&G work, 2D seismic survey and drilling of 3 exploration wells -- for the two offshore blocks from Petronas Carigali and Statoil totaled $70.9 million. Indonesia will receive $3 million in signature bonus.
View Full Article
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
More from this Author
Most Popular Articles
From the Career Center
Jobs that may interest you