Indonesia to Auction off 50 Oil and Gas Blocks in 2011

Ms Evita Herawati Legowo director general at energy and mineral resources ministry said that most of the blocks would be auctioned off in tenders. She added that "Only 11 blocks will be made available through a direct offer scheme."

Ms Evita said that the government also planned to offer 10 coal bed methane blocks. She said the move to auction off the blocks was part of the government's effort to improve the ministry's oil and gas sector.

She added that the government would improve its data on the blocks to make them more attractive to potential buyers and so that it could set credible prices for them.

In 2010, the government targeted to auction 43 blocks, but only 21 found buyers, in part due to a lack of data on the blocks.

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