Gov?t offers 11 exploration blocks

The ministry of energy and mineral resources via directorate general of oil and gas on Wednesday formally announced the opening of 11 new exploration areas for bidding under direct offer system.

The blocks that are offered are: Seruway offshore block in Aceh; Pandan onshore block, Belida onshore block and Air Komering onshore block in South Sumatra; Northwest Natuna offshore block in Natuna sea; Bulungan offshore block, Nunukan offshore block, East Ambalat offshore block, SeiNangka-senipah onshore block, all are located in East Kalimantan; Barito block onshore South and Central Kalimantan; East Sepanjang offshore block in East Java.

Bid info will be available on September 16-26, 2004, with bid submission deadline set at September 30, 2004 2,30 PM. Director general of oil and gas Iin Arifin Takhyan told Petromindo.Com that winners? announcement would be made in October.

Under the direct offer system, when an E&P company is interested to acquire certain blocks which is not on the regular bid offer, it could come directly to the government and ask for the block. Government would then make public announcement that the company is interested to acquire the block and invite other investors to submit their bids for the block. If, until the closing date there were no other bidder, than the block would be granted to the said company. If other bidders emerge, government would grant the block to bidder which offers more benefit to the government. (godang)