Indonesia Awards 22 Oil, Gas Blocks to Boost Exploration, Output
JAKARTA (Dow Jones Newswires), October 17, 2008
The Indonesian government Friday awarded 22 new oil and gas blocks to investors, out of the 25 it offered for bids, the Ministry of Energy and Mineral Resources said.
The government awarded the Arafura Sea Block to ConocoPhillips, the offshore West Papua I and III blocks to Chevron Corp., and the offshore North Sumbawa II block to Husky Energy Inc.
Malaysia's Ranhill Energy Sdn. Bhd. won the onshore South CPP block while a consortium of India's Gujarat State Petroleum Corp. and Essar E&P Ltd. was awarded the Southeast Tungkal Block.
A consortium of Australia's Pearl Energy and Australian Worldwide Exploration Ltd. won the East Muriah block, and China's Sinochem Petroleum E&P, won the Madura Block.
The government awarded the remaining blocks to lesser-known investors.
The investors who won the new blocks plan to invest a total of $330 million during the first three years of exploration, the ministry said.
The government Friday also opened a tender for 31 new oil and gas blocks, which are expected to boost the country's sagging oil and gas output.
Indonesia, the only Asian member of the Organization of Petroleum Exporting Countries, has become a net oil importer and is pulling out of the bloc at the end of this year.
The country produced 862,200 barrels of crude oil per day in September.
Copyright (c) 2008 Dow Jones & Company, Inc.
Operates 12 Offshore Rigs
- Most US Gulf Oil Output Offline Ahead of Tropical Storm Nate (Oct 06)
- U.S. Gulf Oil Producers Start Evacuating Staff Ahead of Tropical Storm Nate (Oct 05)
- For ConocoPhillips, Harvey A Test Of Remote Operations (Sep 07)
Company: Chevron Corporation more info
- Canada's Keyera Signs Pact With Chevron To Transport, Store NGL (Oct 10)
- Chevron Starts LNG Output at Australia's Wheatstone (Oct 09)
- Petrofac Extends North Sea Contract with Chevron (Oct 05)
Company: OPEC more info
- OPEC's Output Curbs Squeeze World's Biggest Oil Refining Complex (Oct 16)
- Russell: China Crude Oil Storage Splurge Is OPEC's Best Friend (Oct 16)
- OPEC Is Said to See Oil Inventory Glut Finally Gone in One Year (Oct 12)
Company: Gujarat State Petroleum Corp. more info
- Oilex Progressing Work Plan to Unlock Gas Resources in India's Cambay Block (Jun 27)
- Oilex Commences Gas Production from Bhandut Field in Gujarat, India (Apr 08)
- GeoGlobal Updates ANK 41-S Drilling In India (Dec 22)
Company: Australian Worldwide Exploration (AWE) more info
- Waitsia Gas Project Exceeds Pre-Production Expectations (Dec 22)
- Waitsia JV Approves 2017 Development Activities Budget (Dec 09)
- AWE Commences Gas Sales from Stage 1 of Waitsia Gas Project in Perth Basin (Aug 29)
Company: Sinochem more info
- Sinochem Names Zhang Wei As General Manager (Nov 07)
- Statoil Awards Wood Group Contracts for Brazil's Offshore Peregrino Project (Sep 22)
- Peregrino Field Offshore Brazil Produces 100 Million Barrels of Oil (Aug 04)
Company: Husky Energy more info
- Husky Energy Posts Smaller 2Q Loss On Higher Oil Prices (Jul 21)
- Canada's LNG Failure Is Its Own Fault, Seven Gen Founder Says (Jul 17)
- Statoil Drills Dry Wells Off Canada's Newfoundland (Jul 10)
Company: Pearl Energy more info
- Tap Oil's Manora Development On Track (Jul 26)
- Drilling Commenced in Gulf of Thailand (Oct 18)
- Mubadala Moves Ahead with Major Oil Projects (Nov 11)
Company: Ranhill Energy more info
- Ranhill to Make A Second Attempt to List on Malaysia Stock Exchange (Dec 09)
- Ranhill Withdraws Plan to List on Bursa Malaysia (Jul 29)
- Ranhill Delays Listing on Bursa Malaysia (Jul 25)
Company: Indonesian Ministry of Energy and Mineral Resources more info
- Indonesia Encourages More Exploration, Development Activities in its Waters (Aug 31)
- Indonesian Acting Energy Minister Says Abadi LNG Remains a Priority Project (Aug 18)
- Indonesia President Joko Widodo Names Archandra Tahar as Energy Minister (Jul 27)
Company: Essar Exploration & Production Limited more info
- Australia Grants 13 Offshore Petroleum Exploration Permits (Nov 24)
- Indonesia Awards 22 Oil, Gas Blocks to Boost Exploration, Output (Oct 17)
- Essar Commissions Fugro for Airborne Survey of Madagascar (Jul 14)