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.
- ConocoPhillips Strikes First Oil at New Alaska Site (Oct 10)
- ConocoPhillips to Divest Timor Sea Acreage (Oct 01)
- KBR, ConocoPhillips to Develop Off-the-Shelf LNG Tech (Sep 18)
Company: Chevron Corporation more info
- Saturno Brazil Pre-Salt Acreage Goes to Shell and Chevron (Sep 28)
- Canada Shale Drillers Feel Permian Pain as Prices Collapse (Sep 20)
- Exxon, Chevron and Occidental Join Oil and Gas Climate Group (Sep 20)
Company: OPEC more info
- Saudi Crown Prince to Trump: We've Replaced All Iran's Lost Oil (Oct 05)
- After Twitter Fail, Trump's Next Avenue Is US Oil Reserve (Sep 26)
- OPEC Gives Tepid Response to Trump Demand (Sep 24)
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
- China's Sinochem Energy Files For $2B Hong Kong Listing (Jul 31)
- China's Sinochem Ties Up With Private Chemical Group In Oil Trading (Jan 10)
- Sinochem Names Zhang Wei As General Manager (Nov 07)
Company: Husky Energy more info
- Canadian Oil Executives Downplay Transportation Bottlenecks (Jul 10)
- Wisconsin City Lifts Evacuation Order After Refinery Blast Hurts 16 (Apr 27)
- Canada's Husky Energy Gains On Higher Refining Margins (Apr 26)
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)