Government may extend tender deadline of oil, gas blocks

The Ministry of Energy and Mineral Resources may once again extend the tender deadline of 15 oil and gas blocks being offered to investors if the expected government regulation on tax system of the gross split scheme is not issued within the next seven days, Bisnis Indonesia reported on Friday.

?If until next week the government regulation is not issued, we?ll extend the deadline if necessary,? said Director General of Oil and Gas Ego Syahrial.

The government is offering 15 oil and gas blocks, comprising of 10 conventional and 5 non-conventional blocks to investors. The government will apply the new gross split scheme in the oil and gas contracts.

The ministry has repeatedly delayed the deadline for bidders in submitting the tender document in a bid to lure more bidders following last year?s failure in getting investors. The latest deadline was set for November 27 in the hope that the government regulation on the taxation system of the gross split scheme could be introduced before that date. (*)