Indonesia's Ministry of Energy and Mineral Resources (MEMR) will offer more oil and gas blocks in a new bidding round this year as the country seeks to increase production despite weaker investment interest due to a decline in oil prices, according to a report published in a local daily Saturday.
“We are in the preparation stage and will start the new bidding round soon,” MEMR’s Director General for Oil and Gas IGN Wiratmaja Puja said, as quoted by The Jakarta Post.
Potential bidders have a total of 10 conventional oil and gas blocks and two unconventional shale blocks, located across Indonesia, for selection.
Conventional oil and gas blocks available for regular open bidding are West Asri (offshore Lampung); Oti (offshore East Kalimantan); Manakarra Mamuju (offshore West Sulawesi) and Kasuri II (onshore Papua), while the two unconventional shale blocks offered under the same auction method are MNK Batu Ampar (East Kalimantan) and MNK Blora (Central Java).
Four conventional blocks offered by the government through direct negotiations are Rupat Labuhan (offshore Riau); West Berau (offshore West Papua); North Jabung (onshore Riau and Jambi) and Southwest Bengara (onshore East Kalimantan).
Meanwhile, MEMR announced Friday that government has completed the sigining of 12 oil and gas blocks in Indonesia awarded in March, comprising eight conventional blocks and four unconventional blocks.
The companies developing the eight conventional blocks are:
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