RI oil, gas tender for 9 blocks attracts 8 bids<\/p>\n
SINGAPORE (Dow Jones): Indonesia's Directorate General of Oil
\nand Gas has received eight bids for six exploration and
\nproduction blocks offered in a tender, a MIGAS official said on
\nFriday.<\/p>\n
The tender offered nine offshore blocks in Makassar Strait,
\nNorth East Java Sea and West Natuna Sea, but three blocks failed
\nto attract any bids, the official said.<\/p>\n
The tender drew bids from eight foreign companies, including a
\nnew player identified as Exol, according to the directorate
\nofficial.<\/p>\n
Exol has submitted its bid for four out of six blocks in the
\nMakassar Strait - Papalang, Popodi, Donggala and Tanjung Aru, the
\nofficial said.<\/p>\n
The Donggala block is also sought after by Total Fina Elf S.A.
\nand Unocal Corp., while Amerada Hess Corp. seeks the Tanjung Aru
\nblock, the MIGAS official said.<\/p>\n
Taritip and Jangeru blocks in Makassar Straits and the Bawean
\nII block in the Northeast Java Sea failed to attract any bids, he
\nadded.<\/p>\n
Gulf Indonesia Resources Ltd., which is 72 percent owned by
\nsoon-to-be-acquired Gulf Canada Resources Ltd., is vying with
\nConoco Indonesia Inc. Ltd. for the Nila block in the Natuna Sea.<\/p>\n
Conoco Inc. announced May 29 its plan to acquire Gulf Canada
\nResources.<\/p>\n
While Conoco has maintained that the Indonesian units are
\nlikely to stay separate upon a successful acquisition, their bids
\nfor the Nila block suggest the two companies' business directions
\nin Indonesia will likely converge, a source said.<\/p>\n
Conoco's acquisition of Gulf is expected to be completed
\nbetween mid-July to mid-August, sources said.<\/p>\n
BP PLC and Santos Ltd. are both vying for the Bawean I block
\nin the North East Java Sea, the MIGAS official said.<\/p>\n
Both companies have operations currently located near the
\nBawean I block, with BP's production sharing contract area in
\nMuriah located just next to the new block it is bidding for.<\/p>\n
The tender for the oil and gas exploration and production
\nblocks is expected to be awarded in November, MIGAS said.<\/p>\n
The directorate intends to offer 14 blocks of new acreage in a
\nnew exploration and production tender to be issued shortly.<\/p>\n
The response to the tender for nine blocks that closed Friday
\nis deemed weak, sources said.<\/p>\n
The officials said 20 parties had previously indicated
\ninterest, but only eight bids were finally submitted.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ri-oil-gas-tender-for-9-blocks-attracts-8-bids-1447893297",
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"sponsor": "Okusi Associates",
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