Indonesia Offers Sweeteners in Oil and Gas Block Tender

Summary

The Energy and Mineral Resources (ESDM) Ministry offers four oil and gas work areas in the latest bidding round. These four work areas are the Sangar Block and the Bunga Block in East Java, the Peri Mahakam Block in East Kalimantan, and the Bose Block in East Nusa Tenggara. "For this round, there are four work areas offered to investors. Three of them are offered with a direct bid mechanism and one work area for a regular auction," ESDM Ministry's director general of oil and gas Tutuka Ariadji at the 3rd International Convention on Indonesian Upstream Oil and Gas (IOG) at the Nusa Dua Convention Center, Bali, on Wednesday.

The ministry calls for interested business entities engaged in the upstream oil and gas industry; financially and technologically capable; able to meet the minimum firm commitment, the auction's terms and conditions; and have good performance and track records to participate in the tender.

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