Half of oil, gas blocks tendered in 2007 attract no bidders

Nearly a half of the 21 oil and gas blocks offered by the government to investors through a regular tender in 2007 attracted no bidders despite the booming oil and gas exploration in the world.

?Only 50 percent of the blocks attracted bidders,? Director General of Oil and Gas the Ministry of Energy and Mineral Resources Evita H. Legowo said in Jakarta on Monday.

According to her, investors were not interested in the blocks due to several possible reasons, including that there are many data about the blocks and it will need an advanced technology and large investment to develop the blocks. The blocks which received no bidders are mostly located in eastern Indonesia.

She decline to mention further details.

She said that the ministry might put the blocks in this year?s second tender which would be launched in October or November. (*)