Govt will tender more oil and gas blocks this year
Wednesday, July 18 2007 - 01:59 AM WIB
The government will auction off more oil and gas blocks this year in order to give investors more choices in entering the country's oil and gas exploration activities.
Luluk Sumiarso, the director general of oil and gas at the Ministry of Energy and Mineral Resources, said in Jakarta Tuesday that the number of oil and gas blocks to be tendered this year would be more than 21 as initially planned.
He did not give further details.
He said that his office was still preparing the terms and conditions for the development of the oil and gas blocks to be put on tender. Incentives such more favorable production sharing scheme was also under discussion in order to lure more investors to take part in the tender, he added.
He said that investors might be also given a special rights if the blocks they won also contain coal bed methane.
According to him, the oil and gas blocks might be offered through direct appointment or regular tender. (Bernard)