17 blocks participate in farm-out forum

Energy and Mineral Resources Ministry held on Wednesday farm-out forum, where shares in as many as 17 oil and gas blocks are on sale.

The farm-out forum, the second time in two years, is an event where companies are looking for new partners in developing certain blocks under their portfolio. Last year, it was held in Bali where 25 blocks were put on offer.

This time, of the 17 blocks, two are CBM blocks.

?Farm-out is also a key tool to companies to share potentials and risks in terms of geological and exploration concepts as well as capital for exploration program,? said Naryanto Wagimin, Director of Oil and Gas Upstream Business Development.

The Ministry said the third farm-out forum is scheduled to take place next September.

17 blocks on offer:
1. Nunukan Offshore Kalimantan (MEI/Medco)
2. Onshore South Sumatera (Nu Energy GMB Rengat dan Sumbagsel)
3. Kerapu Offshore Natuna (Mubadala)
4. Terumbu (AWE)
5. North Madura (AWE)
6. Batanghari Onshore South Sumatera (CNOOC)
7. SE Ganal I (Niko)
8. Sunda Strait I (Niko)
9. SE Seram (Niko)
10. West Sageri (Niko)
11. South Mandar Makassar Strait (PT TEP)
12. North Sumbawa Offshore East Java (Husky)
13. Sebatik Offshore East Kalimantan (Star Energy)
14. East Sepanjang Offshore East Java (PT Easco East Sepanjang)
15. South west Bukit Barisan Offshore East Java (PT Easco East Sepanjang)
16. South West Bukit Barisan Onshore South Sumatera (Radiant Bukit Barisan)
17. Wain Onshore Papua (PT Pandawa Prima Lestari).

Editing by Dadan Wijaksana