Indonesia To Offer More Licensing Concessions

After a cool response to the blocks offered earlier this year, Indonesia has decided to place more blocks on offer at the beginning of next year. The country offered 17 areas at the beginning of 2002, however, only a few were taken. "We will open for tender around another ten areas for oil and gas exploration very soon this year," Rachmat Sudibyo, the head Balak, said in a statement. "We opened...areas for exploration but these don't seem to be that attractive for investors. Therefore we will open areas which we expect will attract oil companies," he said. "The areas are among others in offshore and onshore East Java, Kalimantan and Sumatra," Sudibyo added.

Last year six blocks were awarded to six firms, including BP, Conoco and TotalFinaElf. BP, TotalFinaElf and Conoco among the winners from last year's licensing round.