27 companies take bid information papers on 11 blocks

As many as 27 companies have picked up bid information documents for the tender of 11 oil exploration blocks in Indonesia which was opened this year, oil and gas director general Iin Arifin Takhyan told Petromindo.Com Wednesday.

Iin Airifn declined to mention the companies, saying only that no company from China was found among them.

?Chinese investors may prefer acquiring interests in oil blocks to bidding for new contract areas,? he said.

In February, the government formally offered 11 new exploration blocks in Central Java, East Java and East Kalimantan. They are mostly offshore blocks.

Recently, the government announced that it offered more generous split for investors for the 11 blocks.

The government said that, for the 11 blocks, investors would get between a 20 percent and 25 percent split for oil, and a 35-45 percent split for gas. According to standard PSC terms, they get 15 percent for oil and 30 percent for gas. (godang)