Caltex interested to participate in oil and gas tender

PT Caltex Pacific Indonesia (CPI) said it was interested to take part in the tender for oil and gas blocks recently announced by the government.

Company president W. Yudiana refused on Monday to specify the block being eyed by the firm but he said the block(s) was (were) located in East Java.

The government recently announced the opening of bidding for 27 oil and gas blocks across the nation, including three blocks in East Java. The three blocks are North East Madura V, North Bali II, East Kangean.

Oil and gas blocks in East Java have become favorite among investors given the big demands for gas in East Java and the recent discoveries of several oil wells in the region.

Last year, CPI also took part in the bidding for the North East Madura III block, also in East Java, but another American firm Anadarko Petroleum Corporation came out as the winner in the tender for the block.

CPI is the largest oil producer in Indonesia, accounting about half of the national oil output of about 1.1 million barrels per day. (Alex)