Fri, 15 Dec 2006
Jakarta (ANTARA News) - The Energy and Mineral Resources Ministry said it has awarded 18 new oil and gas contracts to eight consortia and 10 individual contractors, via direct offer.

The contractors include the CNOOC-PT Gregori Gas Perkasa consortium, Star Energy Holdings Ltd., the ConocoPhilips-Statoil ASA consortium, Pearl Oil, the Japex-Premier Oil-Kufpec consortium; and the Transworld Exploration Ltd, Indoreach Exploration Ltd, Mitra Energy Ltd consortium.

The ministry said in a statement that the contractors plan to invest a combined 235.79 mln usd on exploration activity. They must pay a total of 31.45 mln usd in signature bonuses, or advance payments, for the rights to develop their allocated exploration areas within 30 days of signing their contracts.

The government offered 21 blocks through the direct offer system. It drew 23 bidding documents but only 18 met the requirements.

Under direct offer arrangements, the interested parties propose the blocks they want to bid for, and are automatically awarded the site if no other investor expresses interest. (*)



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