Govt awards five oil and gas blocks to foreign investors
Friday, May 23 2008 - 02:46 AM WIB
The government has decided to award five oil and gas blocks to foreign investors who bid for the blocks through a direct offer mechanism.
The five blocks are South Barito, which was awarded to Murphy Overeseas Ventures Inc.; Rangkas, which was awarded to Lundin Oil & Gas B.V.; South East Palung Aru, which was awarded to the consortium of CNOOC South East Asia Ltd and Petronas Carigali Overseas Sdn Bhd; West Timor, which was awarded to Eni Indonesia Ltd; and Kasuri, which was awarded to Genting Oil & Gas Ltd.
Director General Oil and Gas at the Ministry of Energy and MIneral Resources Luluk Sumiarso said on Friday the five firms and consortium have pledged to invest US$201.45 million in exploration efforts and would give a total of $24.40 million in signature bonus to the government. (Bernard)