Gulf Oil and Gas accountACCOUNT

Indonesia Awards Three Oil, Gas Blocks to Investors

Source: Reuters 12/6/2010, Location: Asia

Indonesia has awarded three oil and gas blocks to several local and foreign firms including Lundin Petroleum and Salamander Energy , the energy and mineral resources ministry said.

Investors are to spend a total of $27.7 million for exploration which includes a $3.5 million signature bonus for the government, said Evita Legowo, the director general of oil and gas at the the ministry.

Indonesia has turned into a net importer of crude oil in recent years as production has slumped after a failure to tap new fields fast enough. The country has been offering new exploration rights and financial incentives for oil fields in a bid to stem the steady decline in production.

Following are the names of the oil and gas blocks offered and the companies they were awarded to:
* Sokang: Ephindo Oil and Gas
* South Sokang: Consortium of Lundin and Salamander Energy
* Wokam II: Murphy Overseas Venture

Acquisitions and Divestitures News in Indonesia >>

Australia >>  4/7/2020 - Origin Energy has agreed with joint venture partner Falcon Oil and Gas to increase its interest in the Beetaloo Basin joint venture by 7.5 per cent in...
Liberia >>  4/7/2020 - In line with its strategy of actively managing its asset portfolio and its objective to divest 5 B$ on years 2019-2020, Total is pursuing the divestme...

Namibia >>  4/7/2020 - Global Petroleum Limited has come to an agreement to licence pre-existing 3D seismic data in its offshore Namibia Block, 2011A (PEL0094). This key dat...
New Zealand >>  4/6/2020 - One petroleum exploration permit has been granted for Block Offer 2018. The successful bid was granted to Todd Exploration Management Services Limited...

Australia >>  4/3/2020 - Oilex Ltd is pleased to announce that the date for the satisfaction of the conditions precedent in regard to the acquisition of 27 Petroleum Retention...
United States >>  4/1/2020 - Maha Energy AB (“Maha”) is pleased to announce that its wholly owned subsidiary Maha Energy (US) Inc (“Maha US”) has entered into an agreement to acqu...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Indonesia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |

More News

Related Links

AZ BD BN CN GE HK ID IN IR JP KH KR KZ MM MN MY PG PH PK RU SG TH TJ TM TW UA UZ VN
Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.