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Indonesia Offers 21 Oil and Gas Blocks

Source: Reuters 5/23/2014, Location: Asia

Indonesia is offering 21 conventional and shale oil and gas blocks in its first bidding round for 2014, an energy ministry official said, as the former OPEC member aims to reverse a declining crude output.

The blocks on offer include 13 conventional oil and gas blocks and eight shale blocks, Oil and Gas Director General Eddy Hermantoro told reporters at an industry convention.

"We estimate these oil and gas blocks will provide an additional 3.5 billion barrels of oil and 107.7 trillion cubic feet (tcf) of gas resources," Hermantoro said.

Of the 13 conventional blocks, eight are being offered as direct offers and five are regular tenders, he said.

Of the eight unconventional blocks, five are being tendered as direct offers and three are regular tenders, Hermantoro said, adding that the government expected firms to commit to drilling at least one exploration well for each unconventional block it awards.

Direct offer tenders are preceded by a joint study process, in which oil and gas companies and the government work together to develop seismic data for certain blocks. Companies involved in the study then gain rights to match bids once the blocks are offered in the tender, discouraging other participants.

"We hope these will increase the oil and gas reserves for the next generation," Hermantoro said.

Oil and Gas Block Tender Stage I 2014
Conventional Direct Offers:
North Central Java offshore, East Java offshore
Kualakurun, onshore, Central Kalimantan
Garung, onshore and offshore Central Kalimantan
Offshore Pulau Moa Selatan, offshore Maluku
Dolok, onshore and offshore Papua
South East Papua, onshore Papua
Abar, offshore DKI Jakarta and West Java
Anggursi, offshore West Java and Central Java

Regular Tenders:
North Madura II, offshore East Java
Yamdena, offshore Maluku
South Aru II, offshore Maluku
Aru Trough I, offshore Maluku
Aru Trough II, offshore Maluku

Unconventional Direct offers:
Sakakemang, onshore South Sumatera
Selat Panjang, onshore Riau
Palmerah, onshore South Sumatera
Jambi I, onshore Jambi
Jambi II, onahore Jambi

Regular Tenders:
Shinta, onshore South Sumatera
North Tarakan, onshore North Kalimantan
Kutai, onshore East Kalimantan

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