Govt invites investors to match bids for seven new oil, gas blocks

The government is inviting investors to match existing bids for seven new oil and gas blocks which has been recently put on offer, a senior government official said on Tuesday.

Director for exploration and production at the Directorate General of Oil and Gas Indrajana Chaidir told Petromindo.com that the official invitation to join the bid will be announced later this afternoon.

The seven new oil and gas blocks include four located in East Kalimantan (the so-called: Nunukan block, Bulungan, Tingau, and Ambalat); one in South Sumatra's Lubuk Lingau (on shore); one in Aceh (Serouai); and one in Papua (Bovendigul).

Indrajana said that the seven blocks have already obtained interest from investors, but the government is opening opportunity for other investors to match the bids in a special bidding system. He declined to name the existing bidders.

The government will give one month time for other investors to submit new bids, Indrajana said, adding that the final winning bidder will be announced in March.(Alex/Godang)