16 companies bidding for 14 new exploration blocks

Sixteen companies had submitted bid documents for 14 oil and gas blocks being offered by the government through regular tender system, a senior official at the Ministry of Energy and Mineral Resources said on Monday.

The ministry?s exploration and exploitation director Novian Thaib said foreign companies such as ConocoPhillips, Chevron, Shell, Amerada Hess, together with a local private company were among the 16 companies.

Novian said the Makassar Strait and Natuna regions? blocks are the most-coveted blocks.

The government has scheduled to close the bid on November 10, while the result is expected to be announced in December.

Novian also said the government would open tender for 16 blocks through direct offer system in September and another 16 blocks through regular tender in October. (godang/dino)