Int'l firms bid for RI oil blocks

Sat, 02 Oct 2004 | Source: AP

JAKARTA: ChevronTexaco Corp., Total SA and ConocoPhillips are among international oil companies that bid for the right to explore for oil and gas in 14 new areas in Indonesia, the country's director general of oil and gas said.

The government is offering 21 new oil and gas areas to investors.

"At the close of the bidding yesterday (Wednesday), we have 29 companies that submitted their bids for 14 blocks out of the 21 offered," Iin Arifin Takhyan said. "We're quite happy because big names such as Total, ConocoPhillips, and ChevronTexaco's Caltex bid."

CNOOC Ltd., PetroChina Co., Petroliam Nasional Bhd., Unocal Corp., Santos Ltd., local company PT Medco Energi Internasional and state oil company PT Pertamina also submitted bids, said Novianto M.Thaib, director of exploration and production. -- Bloomberg

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