Indonesia Invites Bids for 14 Conventional Oil & Gas Blocks
Indonesia's Ministry of Energy of Mineral Resources (MEMR) issued an invitation earlier this week for energy companies to bid for 14 blocks under the country's Conventional Oil and Gas Bidding Year 2016 as it attempts to boost domestic petroleum reserves.
Seven of these blocks will be awarded through direct negotiations, while the remainder will be awarded through a regular tender, the Ministry said on its website July 18.
The 7 blocks offered through direct negotiations are:
- Bukit Barat (offshore Riau)
- Batu Gajah Dua (onshore Jambi)
- Kasongan Sampit (onshore Central Kalimantan)
- Ampuh (offshore East Java)
- Ebuny (offshore Southeast Sulawesi)
- Onin (onshore-offshore West Papua)
- West Kaimana (onshore-offshore West Papua)
Oil and gas blocks offered through a regular tender are:
- South CPP (onshore Riau)
- Suremana I (offshore Makassar Strait)
- SE Mander (offshore South Sulawesi - West Sulawesi)
- North Arguni (onshore West Papua)
- Kasuri II (onshore West Papua)
- Manakarra Mamju (offshore Makassar Strait)
- Oti (offshore East Kalimantan)
To boost investors' interest in the tender, the Indonesian government has introduced a new scheme, known as "open bid split". Under this arrangement, oil and gas companies can propose the signature bonus and production split. The winning bids will be selected from those offering the best proposals based on their exploration commitment, signature bonus, and production split which the government assessed to be the most economically viable.
Energy companies keen on direct offers for the 7 blocks can access bid documents from July 18 to Aug. 22. Clarification forums will be held from July 21 to Aug. 24, with submission of bids due on Aug 31.
As for blocks offered through a regular tender, interested oil and gas companies can access bid documents from July 18 to Oct. 28 and clarification forums will be held from July 21 to Nov. 2. The deadline for bid submission will be on Nov. 14.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Malaysia's InvestKL Woos Top Oil, Gas MNCs to Base in Kuala Lumpur
- Petrobangla Invites EOIs for 3 Offshore Exploration Blocks in Bay of Bengal
- Malaysia's SapuraKencana Posts 7.1% Gain in 2Q FY17 PAT to $27M
- TH Heavy Engineering, McDermott End Partnership in Malaysia
- Singapore's NUS Slowly Builds its Petroleum Engineering Program
- FID For $13.2B Louisiana LNG Project
- African LNG Projects To Look Out For
- Equinor Submits Plan For Halten East Subsea Developments
- Bankrupt Sri Lanka Still Seeking More Oil and Fuel Imports
- Most UKCS Operators Paying Invoices Promptly
- UK Slaps 25 Percent Windfall Tax on Oil and Gas Profits
- EU Plan To Escape Russian Fossil Fuels May Fall Short Of Objectives
- Markets Remain Tight Nearly 3 Months into Ukraine War
- EU Forms Task Force To Support Departure From Russian Fossil Fuels
- Shell Completes Sale of Russian Assets to Lukoil
- ADNOC Announces 650MM Barrel Oil Find
- Finland Loses Main Gas Supply
- Oil Inventories Down to Dangerously Low Point
- Brent-WTI Oil Price Spread Inverts
- ExxonMobil Selling Shale Assets for $750MM
- USA Fuelmakers Shifting Into Higher Gear
- Shots Fired During Tanker Loading
- 6 Power Generating Facilities in Texas Just Tripped
- NPD Grants Slew of Drilling Permits
- BlackRock Told Texas It Will Still Invest In Oil And Gas
- Russian Oil Producers Start Using Tankers the World Did Not Want
- ADNOC Announces 650MM Barrel Oil Find
- Finland Loses Main Gas Supply
- This Is Where the Oil Price Would Be Without the War
- Ban on Excessive Gasoline Prices Heading for Vote
- Oil and Gas Discovery Confirmed at Hamlet
- Top Headlines: Be Prepared to Pay More at the Pump from June
- Oil Inventories Down to Dangerously Low Point
- Gas Prices Could Rocket in the Near Term
- Exxon Does It Again - Three More Discoveries Offshore Guyana