Govt's auction of new oil blocks delayed again
Wednesday, February 15 2006 - 02:28 AM WIB
Minister of Energy and Mineral Resources Purnomo Yusgiantoro said that the auction of the 28 oil blocks which was supposed top be opened this week would be delayed again to allow the auction committee improve the tender procedures and to have more time in evaluating the bidding.
"The tender will be delayed to make the auction procedure more attractive," he told reporters on Tuesday. He however did not unveil when the tender would be opened.
The government previously planned to auction 28 new oil and gas blocks this week in a bid to increase the country's oil production. About 10 of the oil and gas blocks would be offered for exploration through a direct offer system, while the other 20 would be offered through a regular tender process. (godang)