Govt may offer more exploration acreages

Indonesia may open up more areas for oil and gas exploration as there's only been limited interest from investors in those blocks offered at the start of the year, a senior mines and energy ministry official was quoted by Reuters as saying Monday..

Indonesia tendered 17 areas for oil exploration at the beginning of 2002, including six offshore blocks in the Arafura Sea and one in the Natuna Sea, but few have been taken up although the government has not given any details.

"The government may open new areas to attract foreign oil investors...So far only a few foreign oil contractors are interested in the areas already offered," a mines and energy ministry official, who declined to be identified, told Reuters.

"Many foreign oil contractors want to bid for areas that are not yet open by the mines and energy ministry...Areas such as South Sumatra, Central Sumatra and East Java onshore and offshore, are very good prospects," he said, without elaborating.

Last year, Indonesia awarded six oil blocks to six companies, including BP, Conoco and TotalFinaElf. (*)