PetroChina To Bid For Indonesian Oil & Gas Blocks

PetroChina plans to bid for upstream oil and gas reserves in Indonesia, China's state media said Tuesday.

The Indonesian government is inviting foreign companies to bid for the exploration rights for 10 oil and gas blocks, and PetroChina will submit bids, Xinhua News Agency said, citing Wei Zhigang, president director of PetroChina's branch company in Indonesia.

The 10 blocks are located in the Indonesian provinces of Aceh, Banten, East Java, Maluku and Papua.

PetroChina will face competition from PT Caltex Pacific Indonesia, which has also indicated it is interested in bidding for the exploration rights.