Govt to offer more exploration blocks this year

The government is planning to hold a second tender for oil and gas exploration blocks later this year, following the first tender which draws many bidders, a government official said.

?We are preparing to offer more than 10 new exploration blocks in the second round. The new blocks would be offered after the completion of the first round tender,? said director general of oil and gas Iin Arifin Takhyan. He did not give specific details about the location.

The government has recently offered 11 exploration blocks, mostly located offshore East Java.

Iin said that this tender, which offered better incentives compared to previous ones, had received enthusiastic response from potential investors. The winner for the tender will be announced in July. (alex)