RI to offer six oil blocks

Wed, 18 Oct 2000 | Source: DJ

SINGAPORE (Dow Jones): The Indonesian government will soon open a tender for six crude oil exploration blocks in the Makassar Strait offshore Sulawesi, according to a report Monday by Indonesia's news agency Antara.

Rachmat Sudibjo, the director general of oil and gas with the Ministry of Mines and Energy said the government is now preparing the tender plan and a draft of the contract between the tender winners and the government, Antara reported.

Sudibjo said each of the blocks had a reserve capacity of about 1 billion barrels of oil.

Indonesia's oil production is currently about 1.3 million barrels a day. Its production target as a member of the Organization of Petroleum Exporting Countries is 1.317 million b/d.

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