Five oil and gas firms start joint study

Five oil and gas firms have started a joint study in the eastern part of Indonesia as a condition to participate in a direct offer for new oil and gas blocks to be held by the government in 2007. The government official said.

Director of upstream oil and gas business development at the Directorate General of Oil and Gas R. Priyono said that the companies are ExxonMobil, Chevron, Amerada Hess, CNOOC, and Essar. Investor Daily reported Tuesday.

Government expected to offer at least 30 blocks through regular tender mechanism and direct offer next year. (*)