Wednesday, 20 May 2009

Government offers 24 new oil, gas blocks

The government is offering 24 new oil and gas blocks for bids in an effort to boost the country's declining output, the Energy and Mineral Resources Ministry said Thursday, Dow Jones reported.
The ministry said seven blocks are being offered through a "direct offer mechanism through joint study." They are the Kubu Block, North East Ogan Komering Block, Offshore West Java Block, Blora Block, North Makassar Block, East Simenggaris Block and Digul Block.
The government is opening 17 blocks for regular tender in the eastern part of the country, namely the Tomina Basin and Bone Bay.
It set July 30 as the deadline for investors to bid on the seven blocks, and October 13 for the 17 blocks, the ministry said.

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