Indonesia Will Tender 17 Blocks for Exploration

Indonesia will tender 17 areas for oil exploration. In an effort to boost reserves 14 of the blocks are new. The documents of tender can be picked up at the end of January or early February, 2002. The areas include six offshore blocks in the Arafura Sea, two in the Seram Sea, two off the northern part of East Kalimantan, one in the Natuna Sea, one onshore in Central Kalimantan and two onshore in South Sulawesi. The other three blocks are offshore the Makassar Strait, two of which would be re-tendered while the other was relinquished by Unocal Corp.

Companies will be selected based on their exploration program and activities. Then their programs would be evaluated and the best one selected. Indonesia has awarded six oil blocks this year to six companies, including BP, Conoco and TotalFinaElf. The companies signed the contracts last week with state oil company Pertamina.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles

Brent Crude Oil : $54.46/BBL 0.96%
Light Crude Oil : $51.68/BBL 1.21%
Natural Gas : $3.44/MMBtu 1.99%
Updated in last 24 hours