Govt to offer 18-20 new oil blocks
Thursday, November 15 2001 - 01:50 AM WIB
The government will soon open tender for 18-20 new oil blocks located in the eastern part of Indonesia, according to director general of oil and gas Rachmat Sudibyo.
Rachmat said on Wednesday that the government would provide certain incentives for the development of the off shore oil blocks because of their difficult location in the deep sea.
He pointed as example that the split for the contractors would be greater.
He added that the government would apply production sharing contract (PSC) based on Law No. 8/1971, not based on the new oil and gas law.
Rachmat said that the tender for the new oil blocks would start once the government complete the tender process for six oil blocks sometime at the end of this month.(Amoros)