RI to offer 11 oil, gas blocks for bidding<\/p>\n
Dow Jones, Jakarta<\/p>\n
The government will offer 11 oil and gas blocks for open
\nbidding Saturday by private oil and gas companies, a government
\nofficial said Monday.<\/p>\n
Iin Arifin Takhyan, oil and gas director general of the Energy
\nand Mineral Resources Ministry, said he will launch the bidding
\nprocess in Bali during a gathering of oil and gas companies on
\nthe resort island this weekend.<\/p>\n
He said the 11 blocks comprise the offshore Tarakan block in
\nSouth Kalimantan, the offshore South Madura block in East Java,
\nthe offshore Bulu block in northeast Java, the offshore Rembang
\nblock north of Central Java, the offshore Madura I and II blocks
\nin East Java, the offshore North Bali I and II blocks, the
\nonshore Merangin I and II blocks in South Sumatra, and the
\noffshore East Kangean block in East Java.<\/p>\n
The government will sign production sharing contracts with the
\nselected companies.<\/p>\n
Indonesia introduced a new oil and gas law in November 2001 to
\nattract more foreign investment in the country's oil and gas
\nsector.<\/p>\n
Under the law, the government lifted the decades-long monopoly
\nenjoyed by state-owned oil and gas firm Pertamina.<\/p>\n
Indonesia is the only Southeast Asian member of the
\nOrganization of Petroleum Exporting Countries, or OPEC.<\/p>\n
The government has forecast this year's average monthly crude
\noil production at 1.27 million barrels a day.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ri-to-offer-11-oil-gas-blocks-for-bidding-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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