Govt to offer 60 oil, gas and CBM blocks this year

The government plans to offer 60 oil, gas and Coal Bed Methane (CBM) blocks this year as part of its program to increase oil, gas and CBM production.

The ministry of energy and mineral resources said that the blocks would comprise 50 oil and gas blocks and 10 CBM blocks. Thirty nine of the oil and gas blocks would be offered through a regular tender and the other 11 blocks through a direct proposal mechanism.

The ministry did not unveil the names of the oil, gas and CBM blocks to be offered, but said that the number would be much higher than those offered in the previous years.

Energy and Mineral Resources Minister Zahedy Saleh said that the increase in the number of oil, gas and CBM blocks to be offered this year was part of the nine important programs made in order to increase oil and gas production.

The other programs also include the improvement of the quality of data of oil and gas to be offered in the tender to make them more attractive to investors, in addition to the improvement of the monitoring system on the implementation of working schedules of each production sharing contractors (PSCs). (denny)