RI to tender Makassar blocks<\/p>\n
SINGAPORE (Dow Jones): Indonesia intends to announce terms and
\nconditions for six deepwater oil and gas exploration blocks by
\nearly January, a source at Indonesia's Ministry of Mines and
\nEnergy told Dow Jones Newswires Wednesday.<\/p>\n
The blocks are located in the Makassar Strait, off Kalimantan,
\nin water depths of over 1,000 meters, the official said.<\/p>\n
The contractor's share of production from the blocks may reach
\n35 percent, under Indonesia's new incentive system, he said.<\/p>\n
The Ministry has already conducted two- and three-dimensional
\nseismic surveys of the blocks, the official said, adding that the
\nblocks are near existing oil and gas fields operated by Unocal
\nCorp. and Totalfina Elf S.A.'s subsidiary Total Indonesie.<\/p>\n
Any gas production from the fields could also feed a liquefied
\nnatural gas plant at Bontang, in East Kalimantan, he said.<\/p>\n
Both Total and Unocal have expressed interest in the blocks,
\nhe said.<\/p>\n
State-owned oil and gas company Pertamina will invite bids for
\nthe blocks. The bidding period will remain open for about six
\nmonths, he said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ri-to-tender-makassar-blocks-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}