Indonesia Plans to Offer More Oil, Gas Blocks for Bidding This Year
- Kualakurun (onshore Central Kalimantan) -- Conocophillips Kalimantan Exploration Ltd.-PC Kualakurun Ltd. (direct offer)
- Garung (onshore Central Kalimantan) -- Mentari Garung Energy Ltd. (direct offer)
- Pulau Moa Selatan (offshore Maluku) -- Shell Pulau Moa Pte. Ltd. (direct offer)
- Southeast Papua (onshore Papua) -- Sepapua Energy Pte. Ltd-Kau 2 Pte. Ltd. (direct offer)
- Abar (offshore North West Java) -- PT. Pertamina Hulu Energi Abar (direct offer)
- Anggursi (offshore North West Java) -- PT. Pertamina Hulu Energi Anggursi (direct offer)
- North Madura (offshore East Java) -- PC North Madura II Ltd. (regular bid)
- Aru Trough I (offshore Aru) -- Statoil Indonesia Aru Trough I B.V. (regular bid)
Firms that secured the four unconventional blocks through direct offers are:
- MNK Kisaran (Riau - North Sumatra) -- Pacific Oil & Gas (MNK Kisaran) Limited - Bukit Energy Resources Barumun Pte. Ltd. - NZOG MNK Kisaran Pty Limited
- MNK Sakakemang (South Sumatra) -- Bukit Energy Resources Sakakemang Deep Pte. Ltd. - PT. Pertamina Hulu Energi MNK Sakakemang
- MNK Selat Panjang (Riau) -- Petroselat NC Ltd.
- MNK Palmerah (South Sumatra) -- Bukit Energy Resources Palmerah Deep Pte. Ltd. - NZOG MNK Palmerah Pty. Limited - PT. Surya Selaras Sejahtera MNK Palmerah
According to the MEMR, the combined investment commitment from the 12 blocks reached $155.8 million, while the signature bonus is $13 million.
Energy and Mineral Resources Minister Sudirman Said described the contract signings as positive for the Indonesian oil and gas industry against a background of low oil prices. "We are in energy crisis but we continue to work,” the minister said, as quoted by The Jakarta Post.
Meanwhile, the Ministry reported the signing of the Pase Working Area Contract Extension for three years, with an investment of $10.5 million and a signature bonus of $1.5 million.
Indonesia has been trying to raise production by encouraging companies to focus on explorations in the search for new hydrocarbon reserves as the country attempts to improve its appeal as an attractive oil and gas investment destination.
There has been a decline in new oil and gas contracts signed in Indonesia in recent years. In 2012, 25 new oil and gas contracts were signed and the figure fell to 14 in 2013 before reaching a low of seven last year, the local daily reported.
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