24 new oil, gas blocks on offer

The Energy and Mineral Resources Ministry on Tuesday officially offered 24 new oil and gas blocks in a drive to bolster energy output and investment, The Jakarta Globe reported.

Evita Legowo, Director General of Oil and Gas at the ministry, said the blocks would be awarded through tenders and direct appointments.

Seven blocks will be offered directly, while 17 will be offered through regular tenders, Legowo said.

Offshore blocks located in South Sulawesi, West Java and Central Java are among those that will be directly assigned, she said.

Most of the 17 blocks up for offer are located in the eastern part of the country, including the Tomini Basin and Bone Bay offshore blocks in Gorontalo.

The Tomini Bay and Gorontalo Tomini working areas, which include seven blocks, are seen as the most promising sites. Gorontalo and Tomini are believed to hold huge amounts of resources, Legowo said.

She said proposals for direct appointments would be accepted until July 30, while regular tender bids would be accepted until October 13.

The government expects to bring into state coffers at least $56.5 million in signing bonuses from the 24 new oil and gas blocks put on offer on Tuesday, Legowo said..

Oil producing companies, looking for opportunities to participate in announced bid round, can get more detailed information on the issue in LLC Petros upon request.