Indonesian oil, gas blocks attract bids in 2017 -mining official

KrisEnergy

29/12/2017 10:19

JAKARTA, Dec 29 (Reuters) - Indonesia received bids from 
several foreign companies for exploration in five oil and gas 
blocks in 2017, the deputy energy minister said on Friday, 
marking an uptick in interest for the resource-rich nation 
compared with previous years.  
    At least four companies, including Mubadala Petroleum, 
Repsol SA  REP.MC  and KrisEnergy  KRIS.SI , put in bids for 
five of the 10 conventional blocks offered, deputy energy 
minister Arcandra Tahar said in a news conference.  
    Local companies had also expressed an interest in the 
blocks, he said.  
    Some 22 oil and gas blocks were offered between 2015 and 
2016 but no companies bid for them. These would be offered again 
in January 2018, Tahar said. 
    The government also received no bids in 2017 for five 
non-conventional blocks that were offered.  
    Winners of the five blocks that were bid on are due to be 
announced in late February 2018. The blocks will be developed 
under contracts that have a new way of splitting up production 
revenues between the government and the concession winners. 
    The contracts will be signed in March 2018.      
 
 (Reporting by Wilda Asmarini; Writing by Kanupriya Kapoor; 
Editing by Tom Hogue) 
 ((kanupriya.kapoor@thomsonreuters.com; +62 21 29927605; Reuters 
Messaging: kanupriya.kapoor.thomsonreuters.com@reuters.net)) 
 
Keywords: INDONESIA ENERGY/