Indonesia to offer more exploration blocks in Natuna

Indonesia will open more oil and gas exploration areas in the Natuna sea via tender following a tentative agreement with Vietnam last week on sea boundaries, a mines and energy ministry spokesman said on Monday.

Vietnam and Indonesia have been in lengthy talks to settle their sea boundaries in an area believed to be rich in hydrocarbons.

"The government will open more exploration areas there. The areas are very promising for oil and gas exploration as potential reserves of oil and gas are big," spokesman Nurwinakun told reporters.

When asked when the areas would be opened, he said: "Possibly this year."

Some foreign oil contractors, including U.S. ConocoPhillips , have been operating in the Natuna sea to produce oil and natural gas.

"We expect more foreign companies to participate and invest in Natuna," he added, but gave no further details.(*)