Govt to offer 31 oil and gas blocks

The government will offer 31 oil and gas blocks to investors in October or November this year, including 12 blocks which failed to attract bidders in the 2007 tender, Director General of Oil and Gas Evita Legowo said on Wednesday.

In the December 2007 regular tender, the government offered 21 blocks but only 9 attracted bidders.

Evita said on July 28, 2008 that investors were not interested in the blocks due to several possible reasons, including that there aren't many data about the blocks and they needed to have an advanced technology and large investment to develop the blocks. The blocks which received no bidders are mostly located in eastern Indonesia

Evita also said the ministry is finalizing two contracts to develop coal bed methane (CBM) blocks.

"The contracts are expected to be signed by the minister (Minister of Energy and Mineral Resources Purnomo Yusgiantoro) soon," Evita said, adding the blocks are located in South Sumatra and Kalimantan respectively. (Godang)