Govt to tender 10 new oil, gas exploration blocks

The government will this year offer 10 new oil and gas exploration blocks, oil and gas director general Iin Arifin Takhyan said Monday.

The blocks include those located in Salawati (Papua), Biliton (South Sulawesi) and Natuna (Riau), the official told reporters.

Iin Arifin declined to say however in which month the 10 blocks would be tendered.

In February, the government formally offered 11 new oil and gas exploration blocks in central Java, East Java, central Sumatra and East Kalimantan. They were mostly offshore blocks.

For the 11 blocks, investors will get between a 20-percent and 25-percent split for oil, and a 35-45 percent split for gas. According to standard production sharing contract terms, they get 15 percent for oil and 30 percent for gas. (godang)