RIGZONE/Lack of Data Discourages Investment in Indonesian Oil, Gas Projects
A lack of information is stymieing the Indonesian government's plans to auction off oil and gas fields, a senior official of the energy and mineral resources ministry said.
Only three of 14 fields offered by the government this year had attracted investors, oil and gas director general Evita Herawati Legowo, said on Monday.
"We've conducted an internal evaluation and found that lack of data was the main reason why many potential investors backed down from their plans," she said when announcing the auction's results at Plaza Centris in Jakarta on Monday.
The government has offered 14 fields - Sokang, South Sokang, Southeast Baronang, Nias, Sunda Strait II, Sunda Strait III, Sunda Strait IV, South Kangean I, South Kangean II, Southwest Makassar, North Bone, Wokam I, Wokam II and Digul.
Sokang was awarded to Ephindo Oil and Gas Holding; South Sokang to Lundin Oil and Gas B.V. and Salamander Energy (Indonesia) and Wokam II to Murphy Overseas Ventures.
Originally there were 36 interested companies bidding at the auctions, the newspaper The Jakarta Post said.