Indonesia Extends Deadline for Licensing Round

Indonesia has extended the deadline for the its most recent oil & gas licensing round until November 7th. The original deadline was October 31st. The reason for extension is more companies have expressed an interest in submitting bids.

The eight blocks were selected earlier by companies including ConocoPhillips and Malaysia's Genting Bhd. "There are more companies interested in the blocks which we have advertised. We need time to evaluate. Therefore, we extend the deadline to November 7 from October 31," Director General Oil and Gas Iin Arifin Takhyan at the energy ministry told reporters. "We expect to announce the winner of the blocks at the end of November or early December this year," Iin said.

The bidding is being carried out under a new upstream policy aimed at boosting oil and gas investment and national reserves by allowing firms to choose the areas they want to explore and then opening those areas up for bidding.

The eight areas are Salawati block in onshore and offshore Papua; Bangkanai block in onshore Central and East Kalimantan; Asmat block in onshore Papua; Halmahera block onshore and offshore of North Moluccas; Palmerah block onshore of South Sumatra; Bontang block in onshore and offshore East Kalimantan; Biliton block offshore of Bangka Belitung (South Sumatra); and Anambas block in offshore East Natuna.

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