RI to offer six oil blocks

Wed, 18 Oct 2000, 00:00 WIB | 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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