Total and Eni Awarded Oil & Gas Blocks in West Papua

Source: Reuters 5/20/2011, Location: Asia

Total and Eni won oil and gas blocks in Indonesia's eastern Papua province, a director at Indonesia's energy ministry said. Total won the South West Bird's Head block, while Eni won the Arguni I block, out of 20 tendered, said Evita Herawati Legowo, the ministry's director general for oil and gas.

Investors have only secured three out of 17 previously offered since December since others lack supporting seismic data, she said. Low exploration investment and frequent unplanned shutdowns have made the former OPEC producer often miss its oil output targets.


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


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